We study a hybrid strategy that uses both process flexibility and finished goods inventory for supply chain risk mitigation. The interplay between process flexibility and inventory is modeled as a two-stage robust optimization problem. In the first stage, the firm allocates inventory before...

We consider a retailer that sells a perishable product, making joint pricing and inventory ordering decisions over a finite time horizon of T periods with lost sales. Exploring a real-life data set from a leading supermarket chain, we identify several distinctive challenges faced by such a...

We study an inventory system with multiple supply sources and expediting options. The replenishment lead times from each supply source are stochastic, representing congestion and disruption. We construct a family of smart ordering and expediting policies that utilize real-time supply...

We review the recent developments in dynamic inventory models with financial flow considerations. The focus is on the literature that introduces cash flow dynamics into the classic inventory models that do not explicitly consider the interactions between physical (or material) and financial...

This chapter summarizes recent development on simple heuristics for optimal inventory policies of multi-echelon inventory systems. These simple heuristics are based on solving a sequence of single-stage inventory problems whose parameters are obtained from the original system data. We mainly...

In the wake of the COVID-19 pandemic, severe economic damage and product shortages caused by demand surges and supply disruptions have prompted interests in strategies and tools for building resilient supply chains. The recent geopolitical conflicts as well as increased frequency of natural...

"This comprehensive Handbook provides an overview of state-of-the-art research on quantitative models for inventory management. Despite over half a century's progress, inventory management remains a challenge, as evidenced by the recent Covid-19 pandemic. With an expanse of world-renowned...