Abstract
In this introductory chapter, relevant parameters pertaining to inventory management have been discussed. These include demand, procurement cost, cycle time, costs of ordering as well as inventory carrying. In case of shortages in the inventory system, cost of stock out and stock out level are mentioned. Economic lot size with as well as without stock out has been explained. Finally, interaction of various inventory parameters has been introduced along with appropriate management response corresponding to the targeted aim.
This is a preview of subscription content, log in via an institution.
Buying options
Tax calculation will be finalised at checkout
Purchases are for personal use only
Learn about institutional subscriptionsAuthor information
Authors and Affiliations
Corresponding author
Rights and permissions
Copyright information
© 2017 Springer Nature Singapore Pte Ltd.
About this chapter
Cite this chapter
Sharma, S. (2017). Introduction. In: Inventory Parameters. Springer, Singapore. https://doi.org/10.1007/978-981-10-4545-5_1
Download citation
DOI: https://doi.org/10.1007/978-981-10-4545-5_1
Published:
Publisher Name: Springer, Singapore
Print ISBN: 978-981-10-4544-8
Online ISBN: 978-981-10-4545-5
eBook Packages: EngineeringEngineering (R0)