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Inventory Rationing

A New Modeling Approach Using Markov Chain Theory

  • Karin Möllering

Part of the Edition KWV book series (EKWV)

Table of contents

  1. Front Matter
    Pages i-xxi
  2. Karin Möllering
    Pages 1-6
  3. Foundations of Stochastic Inventory Control

    1. Front Matter
      Pages 7-7
    2. Karin Möllering
      Pages 9-20
    3. Karin Möllering
      Pages 21-32
  4. Essential Stochastic Processes

    1. Front Matter
      Pages 33-33
    2. Karin Möllering
      Pages 35-46
    3. Karin Möllering
      Pages 47-57
    4. Karin Möllering
      Pages 59-62
  5. Stochastic Inventory Control with Customer Segmentation

    1. Front Matter
      Pages 63-63
    2. Karin Möllering
      Pages 65-82
    3. Karin Möllering
      Pages 83-96
    4. Karin Möllering
      Pages 97-110
    5. Karin Möllering
      Pages 111-134
    6. Karin Möllering
      Pages 135-155
    7. Karin Möllering
      Pages 157-161
  6. Back Matter
    Pages 163-172

About this book

Introduction

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.

Keywords

Inventory Rationing Markov Chain Theory customer segmentation mathematical model optimization

Authors and affiliations

  • Karin Möllering
    • 1
  1. 1.WiesbadenGermany

Bibliographic information

  • DOI https://doi.org/10.1007/978-3-658-24255-8
  • Copyright Information Springer Fachmedien Wiesbaden GmbH, part of Springer Nature 2007
  • Publisher Name Springer Gabler, Wiesbaden
  • eBook Packages Business and Economics
  • Print ISBN 978-3-658-24254-1
  • Online ISBN 978-3-658-24255-8
  • Buy this book on publisher's site