Items related to Inventory Optimization: Models and Simulations
Synopsis
Inventory Optimization argues that mathematical inventory models can only take us so far with supply chain management. In order to optimize inventory policies, we have to use probabilistic simulations. The book explains how to implement these models and simulations step-by-step, starting from simple deterministic ones to complex multi-echelon optimization.
The first two parts of the book discuss classical mathematical models, their limitations, and assumptions, and a quick but effective introduction to Python is provided. Part 3 contains more advanced models that will allow you to optimize your profits, estimate your lost sales and use advanced demand distributions. It also provides an explanation of how you can optimize a multi-echelon supply chain based on a simple yet powerful framework. Part 4 discusses inventory optimization thanks to simulations under custom discrete demand probability functions.
Inventory managers, demand planners, supply planners, and academics interested in gaining cost-effective solutions will benefit from the "do-it-yourself" examples and Python programs included in each chapter.
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About the Author
Nicolas Vandeput is a supply chain data scientist specialized in demand forecasting and inventory optimization. He founded SupChains in 2016. SupChains builds demand forecasting and inventory planning models for international companies and delivers forecasts as a service. Nicolas teaches demand forecasting and inventory optimization to master students at CentraleSupélec, Albert School and Mines Paris - PSL. He wrote Data Science for Supply Chain Forecasting, Inventory Optimization: Models and Simulations and Demand Forecasting Best Practices. He organized the VN1 forecasting competition in 2024 and the VN2 inventory competition in 2025.
"About this title" may belong to another edition of this title.
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Inventory Optimization: Models and Simulations
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De Gruyter (edition 1), 2020
ISBN 10: 3110673916
ISBN 13: 9783110673913
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ISBN 13: 9783110673913
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Inventory Optimization
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Paperback. Condition: New. In this book . . . Nicolas Vandeput hacks his way through the maze of quantitative supply chain optimizations. This book illustrates how the quantitative optimization of 21st century supply chains should be crafted and executed. . . . Vandeput is at the forefront of a new and better way of doing supply chains, and thanks to a richly illustrated book, where every single situation gets its own illustrating code snippet, so could you. --Joannes Vermorel, CEO, Lokad Inventory Optimization argues that mathematical inventory models can only take us so far with supply chain management. In order to optimize inventory policies, we have to use probabilistic simulations. The book explains how to implement these models and simulations step-by-step, starting from simple deterministic ones to complex multi-echelon optimization. The first two parts of the book discuss classical mathematical models, their limitations and assumptions, and a quick but effective introduction to Python is provided. Part 3 contains more advanced models that will allow you to optimize your profits, estimate your lost sales and use advanced demand distributions. It also provides an explanation of how you can optimize a multi-echelon supply chain based on a simple-yet powerful-framework. Part 4 discusses inventory optimization thanks to simulations under custom discrete demand probability functions. Inventory managers, demand planners and academics interested in gaining cost-effective solutions will benefit from the "do-it-yourself" examples and Python programs included in each chapter. Events around the book Link to a De Gruyter Online Event in which the author Nicolas Vandeput together with Stefan de Kok, supply chain innovator and CEO of Wahupa; Koen Cobbaert, Director in the SandO Industry practice of PwC Belgium; Bram Desmet, professor of operations and supply chain at the Vlerick Business School in Ghent; and Karl-Eric Devaux, Planning Consultant, Hatmill, discuss about models for inventory optimization.The event will be moderated by Eric Wilson, Director of Thought Leadership for Institute of Business Forecasting (IBF):https://youtu.be/565fDQMJEEg. Seller Inventory # LU-9783110673913
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