MGT 528 – Operations: Economics
and Strategy
5. Inventory Management: Basics
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Lecture Notes (Overheads Used In Class)
Reading (Preparation)
·
Cachon/Terwiesch (2009), Ch. 6 [Batching
& EOQ]
·
Cachon/Terwiesch (2009), Ch. 11
[Newsvendor Model]
Questions (Preparation)
· What different functions does inventory
fulfill? Think of a tea store, such as Boite à Thé in
Morges.
(In other words, why would one store items and how much of each?)
Background Reading (for future reference only)
· A
Primer on Inventory Management