On January 24th, 2012 Prof. Dr. Çerağ Pinçe (KLU) will give a lecture on the topic "Inventory Management: Old Problem, New Challenges". The lecture is open to the public. Space is limited, so please register ahead of time.
Due to rapid developments in technology and information systems, the speed and the nature of the flow of goods in supply chains have changed drastically. Today, to meet the increased customer expectations, companies need to offer larger assortments, shorter delivery times and better quality to for lower prices. As more and newer products are developed and introduced to the markets, the average product life cycles got shorter. Obsolescence risk as well as consumer returns have increased significantly making the demand ever more uncertain. The higher dynamism of markets made the costs more volatile and difficult to predict. As a result of these changes in the surrounding environment, the efficient inventory management becomes more important than ever. In this talk, I will talk about the inventory models incorporating some of these dynamic aspects. In particular, my focus will be on the inventory management of critical spare parts subject to obsolescence, consumer electronics products with warranty and consumer returns, and the inventory management under random price discounts offered by the supplier.
To register please send an email to: beate.linnenberg(at)the-klu.org
The Lecture Series
The KLU Lecture Series is a forum for scientists and practitioners to talk and discuss on state-of-the art topics related loosely to logistics and entrepreneurship.