Decision Making in Inventory Management

This book provides several inventory models for making the right decision in inventory management under different environments. Basically, the optimal ordering policies are determined for situations with and without shortages in production-inventory systems. The chapters in the book include various features of inventory modeling i.e., inflation, deterioration, supply chain, learning, credit financing, carbon emission policy, stock-dependent demand, among others. The book is a useful resource for academicians, researchers, students, practitioners, and managers who can be benefited with the policies provided in the chapters of the book.

Prof. Dr. Nita H. Shah received her PhD in Statistics from Gujarat University in 1994. Prof. Nita is HoD of Department of Mathematics in Gujarat University, India. She is post-doctoral visiting research fellow of University of New Brunswick, Canada. Prof. Nita’s research interests include inventory modeling in supply chain, robotic modeling, Mathematical modeling of infectious diseases, image processing, Dynamical systems and its applications etc. She has completed 3-UGC sponsored projects. She has published 13 monograph, 5 textbooks, and 475+ peer-reviewed research papers. Five edited books are prepared for IGI-Global and Springer. Her papers are published in high impact Elsevier, Inderscience and Taylor and Francis Journals. By the Google scholar, the total number of citations is over 3268 and the maximum number of citations for a single paper is over 174. The H-index is 25 and i-10 index is 83 up to February 2021. She has guided 28 Ph. D. Students and 15 M.Phil. Students till now. Eight students are pursuing research for their Ph. D. degree and one post-doctoral fellow of D. S. Kothari-UGC. She has travelled in USA, Singapore, Canada, South Africa, Malaysia, and Indonesia for giving talks. She is Vice-President of Operational Research Society of India. She is council member of Indian Mathematical Society.

Mandeep Mittal started his career in the education industry in 2000 with Amity Group. Currently, he is working as Head and Associate Professor in the Department of Mathematics, Amity Institute of Applied Sciences, Amity University Uttar Pradesh, Noida. He earned his post-doctorate from Hanyang University, South Korea, 2016, Ph.D. (2012) from the University of Delhi, India, and postgraduation in Applied Mathematics from IIT Roorkee, India (2000). He has published more than 70 research papers in International Journals and International conferences. He authored one book with Narosa Publication on C language and edited five research books with IGI Global and Springer. He is a series editor of Inventory Optimization, Springer Singapore Pvt. Ltd. He has been awarded the Best Faculty Award by the Amity School of Engineering and Technology, New Delhi for the year 2016-2017. He guided four Ph.D. scholars, and 4 students working with him in the area of Inventory Control and Management. He also served as Dean of Students Activities at Amity School of Engineering and Technology, Delhi, for nine years, and worked as Head, Department of Mathematics in the same institute for one year. He is a member of editorial boards of Revista Investigacion Operacional, Journal of Control and Systems Engineering, and Journal of Advances in Management Sciences and Information Systems. He actively participated as a core member of organizing committees in the International conferences in India and outside India.

Leopoldo Eduardo Cárdenas-Barrón received the B.S. degree in industrial and systems engineering, the M.Sc. degree in manufacturing systems, the M.Sc. degree in industrial engineering, the PhD in industrial engineering; all degrees from Tecnológico de Monterrey. In 1996, Leopoldo Eduardo Cárdenas-Barrón joined the Industrial and Systems Engineering Department at Tecnológico de Monterrey. At present, he is currently a Professor at Industrial and Systems Engineering Department of the School of Engineering and Sciences at Tecnológico de Monterrey, Campus Monterrey, México. He is a researcher of the research group in Optimization and Data Science. He is a member of the Mexican Research National System. He was the associate director of the Industrial and Systems Engineering programme from 1999 to 2005. Moreover, he was also the associate director of the Department of Industrial and Systems Engineering from 2005 to 2009. His research activities include inventory theory, optimization and supply chain. He has published 133 papers in international journals such as International Journal of Production Economics, Applied Mathematical Modelling, Computers and Industrial Engineering, Applied Mathematics and Computation, Mathematical and Computer Modelling, Expert Systems with Applications, OMEGA, European Journal of Operational Research, Computers and Operations Research, Applied Soft Computing, Transportation Research Part E: Logistics and Transportation Review, Computers and Mathematics with Applications, Mathematical Problems in Engineering, Production Planning and Control, Journal of the Operational Research Society, among others. He is a co-author of a book related to simulation (in Spanish).