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Inventory Rationing by Karin Möllering
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Inventory Rationing

A New Modeling Approach Using Markov Chain Theory
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Description

The last decades have seen an increasing diversity of customer expectations and growing competitive pressure for a wide variety of industries. Customer segmentation and subsequent inventory rationing provide a way to cope with those customer demands while maintaining a competitive offer. The general idea resembles the yield management practised in the airline or hotel industries: Demand fulfilment for low priority customers might be refused or delayed in order to reserve stock for more important clients. This dissertation thesis from Karin Möllering provides a comprehensive introduction to inventory rationing. It gives an overview of the different approaches studied and identifies state-of-the-art rules. In a second step, the book particularly focuses on an easy-to-implement but highly efficient rationing strategy. For this strategy, a mathematical model is developed that allows for optimization under different objectives. Potential readership includes scholars of inventory control and management science, students interested in these areas as well as practitioners involved in formulating and implementing rationing strategies.

Author Biography:

Karin Möllering published her work with Kölner Wissenschaftsverlag until 2018.
Release date Australia
March 13th, 2019
Audience
  • Professional & Vocational
Edition
1st ed. 2007, reprint 2019
Illustrations
1 Illustrations, black and white; XXI, 172 p. 1 illus.
Pages
172
ISBN-13
9783658242541
Product ID
28485023

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