Authors: B.D. Craven, S.M.N. Islam
Addresses: University of Melbourne, Victoria 3010, Australia. ' Victoria University, Melbourne, Australia
Abstract: Business managements make daily decisions for supply chains and logistics, such as how much and where to produce, for which market, what prices to set, and how much stock to keep. Often, a system with many components must be analysed as a whole. Operations Research, sometimes called the |Science of Better|, is concerned with mathematical models to make the best decisions among alternatives. A survey of the historical developments in modelling relating to inventory and supply chain management is provided to give perspective to the emergence and the prospect of modelling supply chain management. The questions discussed are what assumptions are made, when they are appropriate, and some conclusions that follow from the models.
Keywords: inventory management; supply chain management; feedback; logistics; operations research; modelling.
International Journal of Industrial and Systems Engineering, 2007 Vol.2 No.4, pp.444 - 453
Available online: 11 Apr 2007 *Full-text access for editors Access for subscribers Purchase this article Comment on this article