Inventory and Supply Chain Management with Forecast Updates is concerned with the problems of inventory and supply chain decision making with information updating over time. The models considered include inventory decisions with multiple sources and delivery modes, supply-contract design and evaluation, contracts with exercise price, volume-flexible contracts allowing for spot-market purchase decisions, and competitive supply chains. Real problems are formulated into tractable mathematical models, which allow for an analysis of various approaches, and provide insights for better supply chain management. The book provides a unified treatment of these models, presents a critique of the existing results, and points out potential research directions. Attention is focused on solutions ¿ that is, inventory decisions prior and subsequent to information updates and the impact of the quality of information on these decisions.
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Über den Autor Suresh P. Sethi
Suresh P. Sethi is the Eugene McDermott Chair Professor of Operations Management and Director of the Center for Intelligent Supply Networks (C4ISN) at the University of Texas at Dallas, USA. He has made significant contributions in the fields of manufacturing and operations management, finance and economics, marketing, industrial engineering, operations research, and optimal control. He is best known for his textbook on optimal control, developments of the Sethi advertising model and Sethi-Skiba points, pioneering works on stochastic inventory models especially with incomplete information, and seminal papers on consumption-investment problems with bankruptcy. He has received numerous prestigious honors and awards such as IEEE Fellow, INFORMS Fellow, SIAM Fellow, POMS Fellow, AAAS Fellow, IITB Distinguished Alum, Tepper School of Business-Alumni Achievement Award, and POMS President (2012). Two conferences have been organized in his honor: in Aix en Provence in 2005 and at the UT Dallas in 2006 with Harry M. Markowitz, a 1990 Nobel Laureate in Economics, as the keynote speaker. Also, two books have been edited in his honor. His past and present editorial positions include Departmental Editor of Production and Operations Management, Corresponding Editor of SIAM Journal on Control and Optimization, and Associate Editor of Operations Research, M&SOM, and Automatica.