Decision Systems for Inventory Management and Production Planning

by R PETERSON and Rein Peterson

This is a revision of a classic which integrates managerial issues with practical applications, providing a broad foundation for decision-making. It incorporates recent developments in inventory... This description may be from another edition of this product.

• Format: Hardcover
• Language: English
• ISBN: 0471683272
• ISBN13: 9780471683278
• Release Date: January 1979
• Publisher: John Wiley & Sons
• Length: 799 Pages
• Weight: 3.54 lbs.

Customer Reviews

Best book on inventory management

Without any doubt, Silver/Pike/Peterson is the best and most comprehensive book on inventory management. If you are searching for simplistic "management consultant concepts" then buy something else. If you want to learn how realize all these basic concepts take this book. Seriously, what are people exspecting: "too technical" ? Stupid. If you do not have any clue about basic math, why do you wanna go into logistics? If I should teach somebody on logistics I would gave him or her one of the (thousands) books on simplistic powerpoint-like SCM concepts (if you want read Silver/Pike/Peterson you have to know these concepts beforehand). And when the question arises how to put this into practice, I would give this person the Silver/Pike/Peterson book. In the end, standard concepts are not enough. You need math. And Silver/Pike/Peterson only gives you a brief introduction about the basic math. Thus, alltogether the result will answer the question: how to run operations at the bottom line of the industry. Of course for becoming supply chain champion the book will not offer "the perfect master plan" but Silver/Pike/Peterson will give you the basic knowledge to generate such knowledge.

A thoughtful book

My friend recommended this book to me. I find this book is very interesting. In particular, the view of inventory modeling complexity is quite thoughtful. I have to accept that the authors did an excellent job to bring practice and theory together. It is not only for researchers but also professionals who want to appreciate the theory side. Highly recommended among all inventory books on the market.

Excellent Post Graduate and Research Textbook

This is one of the most interesting books I have read, especially in such a technical area. The authors present the information in a very easy going fashion, given the reader has enough mathematical background.This book -in my opinion- is suitable for senior level, and graduate students, and is a must for industrial engineering and supply chain research students. It is an excellent reference for any supply chain, inventory management, or production management practioner.

The best book I have found for pure Inventory Mgt:

For my line of work, which is strictly in support of inventory management, in a large organization, this book is the best and most comprehensive reference I have found for inventory management. Other references, such as Chopra's or Shapiro's, offer an excellent survey in the broader topic of supply chain management but do not approach the depth of this text in straight inventory management. For the person working in a large organization, in which supply chain management is broken up across large numbers of people and departments, and for whom inventory management is the main focus, then this is the book for such an individual.The particular strength of this book lies in chapters 5 - 10 in which a very comprehensive analysis is placed on the topics of reorder quantity (Eoq) and the large array of optimization and inventory control techniques in the realm of re-order point, order-up-to logic etc. This text covers classic Eoq analysis, along with the alternative heuristic methods for items displaying an uneven rate of demand. The approach to setting re-order point rules for slow-selling, as opposed to fast-moving items, receives ample coverage. No other book I have seen covers the issue of slow-moving items as well, which is significant since in industry many items are slow movers.The authors cover the concepts of "exchange curves" and how one can link inventory control objectives at the item level to an aggregate level. This is a critical concept for the practitioner attempting to reconcile item-level inventory control to aggregate inventory and financial planning objectives.The forecasting section itself offers substantial treatment of the topic though additional depth, such as with an addtional chapter, would improve this book. Perhaps forecasting will receive greater treatment in a future edition.Also of value is the overall approach to the topic of inventory control, starting with forecasting, then re-order quantity, and then re-order point rules. Also, there are valuable insights to help the practitioner "draw the line" between a fast-moving item and a slow-moving item and specific direction on the inventory control policies to pursue with both classes of inventory. Relatedly, there is excellent discussion on the rules one can apply to approach inventory management with eiter the normal distribution of demand versus when other distributions of demand may apply for slow-moving items. Books such a Chopra's do not give this critical topic the same level of attention.Mathematical topics and formulas are presented in a manner which should be accessible and substantial for individuals with a wide degree of quantitative backgrounds. The topics are presented with a good degree of detail, rigorous yet still in well-defined sections. The book's construction supports in-depth study in addition to quick reference. References and citations of other work abound for those who wish to explore a topic further.The Chopra or Shapiro or Simch-Levi or

Most current updated & completed reviews

If you are new to inventory model or a professional but off school for several years. Don't forget to get this book. Silver et.al. review + explore the inventory problem in both macro and micro viewpoint. For supply chain manager, this book is more quantitative (infact, I think this is the most quantitative analysis) and full of reference (more than 150-200 references for each chapter). One disadvantage though... Too expensive... don't you consider to have the paperback edition? C'mon... student doesn't have much money.