COURSE OUTLINE 

Topics to be covered: 
 Introduction: measures of effectiveness, inventory policies and review of renewal reward theorem.
 Review of models with known and constant or time varying demand
 Inventory Management under Stochastic demand and Constant lead times
 Continuous review inventory control, Poisson demand, basestock policies
 Periodic Review Models with Stochastic Demand
 Single period (Newsboy) Models
 Dynamic Inventory Models with Stochastic Demand
 Optimal Policies and Approximations
 Random lead times
 Competitive Inventory management
 Perishable Inventories, allocation and distribution model for perishable products
 Continuously deteriorating inventory models, age dependent perishability
 Control policies for perishable inventory systems, dynamic pricing for perishable assets

References: 
 E. L. Porteus, Foundations of Stochastic Inventory Theory, Stanford Univ. Press, 2002.
 P. H. Zipkin, Foundations of Inventory Management, Irwin/McGrawHill, 2000.
 Quantitative Models for Supply Chain Management, Editors S. Tayur, R. Ganeshan, M. Magazine, 1999.
 I. Sahin, Regenerative Inventory Systems, Springer Verlag, 1990.

Grading: 
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.

