Performance evaluation of stochastic multi-echelon inventory systems: A survey

David Simchi-Levi, Yao Zhao

Research output: Contribution to journalReview articlepeer-review

26 Scopus citations

Abstract

Globalization, product proliferation, and fast product innovation have significantly increased the complexities of supply chains in many industries. One of the most important advancements of supply chain management in recent years is the development of models and methodologies for controlling inventory in general supply networks under uncertainty and their widefspread applications to industry. These developments are based on three generic methods: the queueing-inventory method, the lead-time demand method and the flow-unit method. In this paper, we compare and contrast these methods by discussing their strengths and weaknesses, their differences and connections, and showing how to apply them systematically to characterize and evaluate various supply networks with different supply processes, inventory policies, and demand processes. Our objective is to forge links among research strands on different methods and various network topologies so as to develop unified methodologies.

Original languageEnglish (US)
Article number126254
JournalAdvances in Operations Research
Volume2012
DOIs
StatePublished - 2012

All Science Journal Classification (ASJC) codes

  • Management Science and Operations Research

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