- Students will learn an exact analysis for relatively simple inventory models
- Students will learn what can be done via approximate performance evaluation when an exact performance evaluation is not possible.
- Students will learn about heuristics for cases where an exact optimization is not possible or has a too high computational complexity.
- Students will be exposed to open research problems.
In this course, various quantitative/mathematical models for inventory problems are discussed.
- Basic probability theory.
- Basic knowledge of Markov processes and queueing theory (M|M|1, M|G|¥, M|G|c|c queue). If you miss this part of the prerequisite, you can study chapters on these topics in a standard text book on Operations Research; see e.g. Chapter 17 on “Markov Chains” (up to and including Section 17.6, pp. 923-950) and Chapter 20 on “Queueing Theory” (up to and including Section 20.8, pp. 1051-1098) of Winston , “Operations Research: Applications and Algorithms” (4-th edition), Brooks/Cole-Thomson Learning, Bement, CA, U.S.A.
More detailed information on the course: TRAIL OML Advanced Inventory Theory – 2018
Lecturers: Prof. Rommert Dekker and Prof. Geert-Jan van Houtum
Course dates: 14 & 28 March, 11 & 25 April 2018
Time: 10.00 -16.00 h.
Location: Utrecht, Boswell-Beta, Laan van Puntenburg 2A
ECTS: 1 (attendance) – 4 (attendance + assignment)
Participation: free for TRAIL/Beta/OML members and PhD students of participating faculties
This course is part of the GP-OML program (www.GP-OML.nl)