Inventory Management Models

in Supply Chain Management

Sanjay Kumar HA
1DA19MBA39
Inventory Management
Inventory management is the products or materials a
company sells to its customers in order to make profit.
As part of the supply chain, inventory management
includes several different aspects such as controlling
and overseeing purchases from suppliers and
customers, maintaining the storage of stock,
controlling the amount of product for sale and order
fulfillment.
Steps of Inventory Management
Purchasing inventory - raw materials or components
are bought and delivered to the warehouse.
Storing inventory - inventory is stored until needed.
Raw materials are moved to production facilities to be
made into finished goods and returned to stock areas
until ready for shipment. 
Profiting from inventory - the amount of product for
sale is controlled. Finished goods are pulled to fulfill
orders. Products are shipped to customers.
Inventory Management Models
Optimization Model
Mixed Integer Linear Programming
Stochastic Modeling
Uncertainty Modeling
Bi-level Optimization