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Multi-echelon Inventory Models

In: Materials Management

Author

Listed:
  • Prem Vrat

    (ITM University)

Abstract

This chapter describes a hierarchical, multilocation inventory system called “multi-echelon” inventory system in which the stock is located at multiple locations but belongs to the same system. In such a case an integrated approach is necessary instead of treating each location of inventory in an autonomous manner. Multi-echelon systems are complex in nature and will require to address the strategic, tactical, and operational issues, which may be difficult to be incorporated in a single model. Nested models combining a number of models might become necessary. A base stock control policy with simultaneous transmission of demand data to higher echelon can effectively handle the situation. A multi-echelon repair-inventory system has been described for recoverable items called as METRIC and MOD-METRIC.

Suggested Citation

  • Prem Vrat, 2014. "Multi-echelon Inventory Models," Springer Texts in Business and Economics, in: Materials Management, edition 127, chapter 11, pages 195-210, Springer.
    • Handle: RePEc:spr:sptchp:978-81-322-1970-5_11
    DOI: 10.1007/978-81-322-1970-5_11
    as

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