Inventory Planning with Innovation

Inventory Planning with Innovation: A Cost Focus discusses inventory planning concepts with major emphasis on innovation to reduce cost in a single volume. - Provides an understanding of innovation efforts and linking it with inventory planning in reducing cost. - Offers various factors influencing innovation efforts, knowledge of investment or expenditure that might be estimated before starting the innovation efforts, purchase inventory, and the manufacturing inventory. - Covers important concepts including innovation efforts, strategic period, procurement inventory, total cost estimation, production inventory, related total cost planning, multiple products, multiple items procurements, and multiple items manufacture. This reference is primarily written for senior undergraduate, graduate students, and professionals in the field of industrial engineering, production engineering, and manufacturing science.

Sanjay Sharma is a Professor at the National Institute of Industrial Engineering (NITIE), Mumbai, India. As an operations and supply chain management educator and researcher, he has more than three decades of experience including industrial, managerial, teaching/training, consultancy, and research, and has a number of awards and honors to his credit. He has published five books and papers in various reputed journals such as the European Journal of Operational Research, International Journal of Production Economics, Computers and Operations Research, and International Journal of Advanced Manufacturing Technology. He also serves as a reviewer for several international journals and on the editorial board of few journals including the International Journal of Logistics Management.

1. Introduction. 2. Procurement Inventory. 3. Production Inventory. 4. Multiple Products. 5. Conclusions.