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Erschienen in:
2017 | OriginalPaper | Buchkapitel
1. Introduction
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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.