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Feature Article—Research Portfolio for Inventory Management and Production Planning Systems

Author

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  • Harvey M. Wagner

    (University of North Carolina, Chapel Hill, North Carolina, and McKinsey and Co., New York, New York)

Abstract

This paper provides a nontechnical survey of the status of inventory management systems. The central theme is an enumeration of practical problems that need research and analytic attention. These problems arise in the diagnostic, design, system performance forecasting, and implementation phases of real-life inventory management improvement projects. The paper describes many of the detailed aspects of such projects, and discusses where operations research has not yet provided sufficient scientific foundation to judge the merit of pragmatic alternatives for dealing with these problems.

Suggested Citation

  • Harvey M. Wagner, 1980. "Feature Article—Research Portfolio for Inventory Management and Production Planning Systems," Operations Research, INFORMS, vol. 28(3-part-i), pages 445-475, June.
    • Handle: RePEc:inm:oropre:v:28:y:1980:i:3-part-i:p:445-475
    DOI: 10.1287/opre.28.3.445
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    Cited by:

    1. P K Tripathy & W-M Wee & P R Majhi, 2003. "An EOQ model with process reliability considerations," Journal of the Operational Research Society, Palgrave Macmillan;The OR Society, vol. 54(5), pages 549-554, May.
    2. Manikas, Andrew S. & Patel, Pankaj C. & Oghazi, Pejvak, 2019. "Dynamic capital asset accumulation and value of intangible assets: An operations management perspective," Journal of Business Research, Elsevier, vol. 103(C), pages 119-129.
    3. Uttarayan Bagchi, 1987. "Modeling lead‐time demand for lumpy demand and variable lead time," Naval Research Logistics (NRL), John Wiley & Sons, vol. 34(5), pages 687-704, October.
    4. Jing Wu & Dan Zhang & Yang Yang & Gongshu Wang & Lijie Su, 2022. "Multi-Stage Multi-Product Production and Inventory Planning for Cold Rolling under Random Yield," Mathematics, MDPI, vol. 10(4), pages 1-21, February.
    5. Sandun C. Perera & Suresh P. Sethi, 2023. "A survey of stochastic inventory models with fixed costs: Optimality of (s, S) and (s, S)‐type policies—Discrete‐time case," Production and Operations Management, Production and Operations Management Society, vol. 32(1), pages 131-153, January.
    6. Erkip, Nesim Kohen, 2023. "Can accessing much data reshape the theory? Inventory theory under the challenge of data-driven systems," European Journal of Operational Research, Elsevier, vol. 308(3), pages 949-959.
    7. Sandun C. Perera & Suresh P. Sethi, 2023. "A survey of stochastic inventory models with fixed costs: Optimality of (s, S) and (s, S)‐type policies—Continuous‐time case," Production and Operations Management, Production and Operations Management Society, vol. 32(1), pages 154-169, January.
    8. Arantes, Amílcar & Alhais, Andreia Frias & Ferreira, Luis Miguel D.F., 2022. "Application of a purchasing portfolio model to define medicine purchasing strategies: An empirical study," Socio-Economic Planning Sciences, Elsevier, vol. 84(C).

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