Rutgers University
College of Engineering
Department of Industrial Engineering
540:660 Inventory Control
Instructor: Dr. M. B. Gürsoy
Office: CoRE 218
Phone: X-5465
Topics to be covered:
    1. Introduction: measures of effectiveness, inventory policies and review of renewal reward theorem.

    2. Review of models with known and constant or time varying demand

    3. Inventory Management under Stochastic demand and Constant lead times

    4. Continuous review inventory control, Poisson demand, base-stock policies

    5. Periodic Review Models with Stochastic Demand

    6. Single period (Newsboy) Models

    7. Dynamic Inventory Models with Stochastic Demand

    8. Optimal Policies and Approximations

    9. Random lead times

    10. Competitive Inventory management

    11. Perishable Inventories, allocation and distribution model for perishable products

    12. Continuously deteriorating inventory models, age dependent perishability

    13. Control policies for perishable inventory systems, dynamic pricing for perishable assets

    1. E. L. Porteus, Foundations of Stochastic Inventory Theory, Stanford Univ. Press, 2002.

    2. P. H. Zipkin, Foundations of Inventory Management, Irwin/McGraw-Hill, 2000.

    3. Quantitative Models for Supply Chain Management, Editors S. Tayur, R. Ganeshan, M. Magazine, 1999.

    4. I. Sahin, Regenerative Inventory Systems, Springer Verlag, 1990.


Assignment 10%, Project Presentations 25%, Midterm Exam 30%, Final Exam 35%.

※ All exams are closed book closed notes, no electronic or hard copy cheat sheets are allowed. Please go over the Rutgers Academic Integrity Policy.