Soft Computing in Inventory Management

Organizations in every sector of the economy must decide how much of each item to keep on hand at any given time, and those decisions shape the policies, activities and procedures they follow. This book approaches that problem through mathematical models built around situations that industrial firms actually encounter, and it examines a range of effective ways to control and manage inventory using soft computing techniques.

Many industries run into undisciplined ordering habits and into gaps between production and ordering. To tackle these mismatches, the book works toward the best ordering policy for each case. Every model is solved with soft computing optimization methods, which identify the optimal policy.

The text is written for practitioners, educators and researchers. Retailers and managers can also use it to strengthen business functions and to reach decisions that are more precise and more closely tied to real conditions.