Skip to main content
SpringerLink
Log in
Book cover

Inventory Rationing

A New Modeling Approach Using Markov Chain Theory

  • Book
  • © 2007

Overview

Authors:
  1. Karin Möllering

    1. Wiesbaden, Germany

    View author publications

    You can also search for this author in PubMed   Google Scholar

  • Provides a comprehensive introduction to inventory rationing
  • Presents an easy-to-implement but highly efficient rationing strategy
  • The book is aimed at scholars of inventory control and management science

Part of the book series: Edition KWV (EKWV)

This is a preview of subscription content, log in via an institution to check access.

Access this book

Log in via an institution
eBook USD 34.99
Price excludes VAT (USA)
  • Available as PDF
  • Read on any device
  • Instant download
  • Own it forever
Softcover Book USD 44.99
Price excludes VAT (USA)
  • Compact, lightweight edition
  • Dispatched in 3 to 5 business days
  • Free shipping worldwide - see info

Tax calculation will be finalised at checkout

Other ways to access

Licence this eBook for your library

Institutional subscriptions

Table of contents (12 chapters)

  1. Front Matter

    Pages i-xxi
    Download chapter PDF

  2. Introduction

    • Karin Möllering
    Pages 1-6

  3. Foundations of Stochastic Inventory Control

    1. Front Matter

      Pages 7-7
      Download chapter PDF

    2. Basic Concepts of Inventory Management

      • Karin Möllering
      Pages 9-20

    3. Stochastic Inventory Control

      • Karin Möllering
      Pages 21-32

  4. Essential Stochastic Processes

    1. Front Matter

      Pages 33-33
      Download chapter PDF

    2. Markov Chains

      • Karin Möllering
      Pages 35-46

    3. Numerical Solution of Infinite Markov Chains

      • Karin Möllering
      Pages 47-57

    4. Comparing Stochastic Processes

      • Karin Möllering
      Pages 59-62

  5. Stochastic Inventory Control with Customer Segmentation

    1. Front Matter

      Pages 63-63
      Download chapter PDF

    2. Introduction to Inventory Rationing

      • Karin Möllering
      Pages 65-82

    3. A Markov-Chain Based Modeling Approach

      • Karin Möllering
      Pages 83-96

    4. Prioritization by Penalty Costs

      • Karin Möllering
      Pages 97-110

    5. Prioritization by Service Levels

      • Karin Möllering
      Pages 111-134

    6. Dynamic Rationing Policies

      • Karin Möllering
      Pages 135-155

    7. Conclusion and Critical Review

      • Karin Möllering
      Pages 157-161

  6. Back Matter

    Pages 163-172
    Download chapter PDF
Back to top

Keywords

About this book

The last decades have seen an increasing diversity of customer expectations and growing competitive pressure for a wide variety of industries. Customer segmentation and subsequent inventory rationing provide a way to cope with those customer demands while maintaining a competitive offer. The general idea resembles the yield management practised in the airline or hotel industries: Demand fulfilment for low priority customers might be refused or delayed in order to reserve stock for more important clients.


This dissertation thesis from Karin Möllering provides a comprehensive introduction to inventory rationing. It gives an overview of the different approaches studied and identifies state-of-the-art rules. In a second step, the book particularly focuses on an easy-to-implement but highly efficient rationing strategy. For this strategy, a mathematical model is developed that allows for optimization under different objectives.


Potential readership includes scholars of inventory control and management science, students interested in these areas as well as practitioners involved in formulating and implementing rationing strategies.

Authors and Affiliations

  • Wiesbaden, Germany

    Karin Möllering

About the author

Karin Möllering published her work with Kölner Wissenschaftsverlag until 2018.

Bibliographic Information

  • Book Title: Inventory Rationing

  • Book Subtitle: A New Modeling Approach Using Markov Chain Theory

  • Authors: Karin Möllering

  • Series Title: Edition KWV

  • DOI: https://doi.org/10.1007/978-3-658-24255-8

  • Publisher: Springer Gabler Wiesbaden

  • eBook Packages: Business and Economics, Economics and Finance (R0)

  • Copyright Information: Springer Fachmedien Wiesbaden GmbH, part of Springer Nature 2007

  • Softcover ISBN: 978-3-658-24254-1Published: 13 March 2019

  • eBook ISBN: 978-3-658-24255-8Published: 01 March 2019

  • Series ISSN: 2946-0301

  • Series E-ISSN: 2946-031X

  • Edition Number: 1

  • Number of Pages: XXI, 172

  • Number of Illustrations: 1 b/w illustrations

  • Additional Information: Originally published by Kölner Wissenschaftsverlag, Köln, 2007

  • Topics: Econometrics

Publish with us

Policies and ethics

Back to top

Search

Navigation