Inventory control of spare parts using a Bayesian approach: a case study

Article Abstract:

A case study uses a Bayesian approach to forecast demand and determine the appropriate parameter of an inventory system to control spare parts in an electronic-equipment manufacturing unit. The Bayesian approach is used to determine the distributions of demand for spare parts and to calculate the required stock levels.

Models, Case studies, Bayesian statistical decision theory, Bayesian analysis, Spare parts

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Return handling options and order quantities for single period products

Article Abstract:

Products that are sold through E-commerce or mail sales catalogues tend to have a much higher return rate than traditional products. To support decision making in these situations, various options, which may be considered as strategic decisions, are studied, on handling the increased return flow.

Forecasts, trends, outlooks, Equipment Purchase Analysis, Methods, Purchasing, Forecasts and trends, Market trend/market analysis, Electronic commerce, E-commerce, Logistics, Business logistics

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An efficient optimal solution method for the joint replenishment problem with minimum order quantities

Article Abstract:

A study applies optimization theory to solve replenishment problems relating to inventory.

Netherlands, Analysis, Mathematical optimization, Optimization theory

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