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Inventory Management

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Comprehensive Logistics

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Abstract

Stocks are necessary to balance temporal deviations between demand and supply and between consumption and production. Buffer stocks enable high utilization by decoupling stations with deviating production and consumption rates. Safety stocks ensure availability when demand varies stochastically and when production or supply are temporarily interrupted or delayed. Supply costs are minimal if the right quantities of the right articles are stored at the right stages of the supply network. The productivity can be improved by production on stock.

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Notes

  1. 1.

    The commercial stock availability, i.e. the availability of an article stock, should not be mixed up with the technical storage availability, i.e. the availability of the storage system (see Sect. 13.6 ).

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Authors and Affiliations

  1. Strandweg 54, D-22587, Hamburg, Germany

    Dr. rer. nat. Dr.-Ing. habil. Timm Gudehus

  2. University of Bremen, Wilhelm-Herz-Strasse 12, D-28359, Bremen, Germany

    Prof. Dr. Herbert Kotzab (Chair of Business Studies and Logistics Management, International Professor Caledonian Business School, Visiting Professor Copenhagen Business School)

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  1. Dr. rer. nat. Dr.-Ing. habil. Timm Gudehus
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  2. Prof. Dr. Herbert Kotzab
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Correspondence to Timm Gudehus .

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Gudehus, T., Kotzab, H. (2012). Inventory Management. In: Comprehensive Logistics. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-642-24367-7_11

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  • DOI: https://doi.org/10.1007/978-3-642-24367-7_11

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