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Author: Alan J. Auerbach
Publisher:
ISBN:
Category : Inventories
Languages : en
Pages : 98
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Book Description
This paper presents a structural model of production and inventory accumulation based on the hypothesis of cost minimization. It differs from previous attempts in several respects. First, it integrates the analysis of input inventories with output inventories, treating the two stocks separately. Second, it distinguishes between temporary and permanent fluctuations in sales as they are anticipated by the industry. Third, it allows for a more general structure of adjustment costs, and in particular for a cost changing the production level rather than only for deviations of the production level from a fixed target. Empirically, there are three principal conclusions. This model performs much better than those with no cost of production adjustment allowed. Disaggregation of inventories provides significant insights into the dynamics of the adjustment process. However, the restrictions on our model implied by the continuous-time stochastic control theory that we utilize are rejected by the data. We believe that a more disaggregated specification or a more detailed econometric treatment of the discrete-time nature of the observations would avoid this difficulty
Author: Alan J. Auerbach
Publisher:
ISBN:
Category : Inventories
Languages : en
Pages : 98
Get Book Here
Book Description
This paper presents a structural model of production and inventory accumulation based on the hypothesis of cost minimization. It differs from previous attempts in several respects. First, it integrates the analysis of input inventories with output inventories, treating the two stocks separately. Second, it distinguishes between temporary and permanent fluctuations in sales as they are anticipated by the industry. Third, it allows for a more general structure of adjustment costs, and in particular for a cost changing the production level rather than only for deviations of the production level from a fixed target. Empirically, there are three principal conclusions. This model performs much better than those with no cost of production adjustment allowed. Disaggregation of inventories provides significant insights into the dynamics of the adjustment process. However, the restrictions on our model implied by the continuous-time stochastic control theory that we utilize are rejected by the data. We believe that a more disaggregated specification or a more detailed econometric treatment of the discrete-time nature of the observations would avoid this difficulty
Author: Alan J. AUERBACH
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Book Description
Author: Robert Dan Reid
Publisher: John Wiley & Sons
ISBN: 9780470524589
Category : Pedestrian areas
Languages : en
Pages : 0
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Book Description
With its abundance of step-by-step solved problems, concepts, and examples of major real-world companies, this text brings unparalleled clarity and transparency to the course.
Author: Peter D. Franke
Publisher: Univerlagtuberlin
ISBN: 3798322112
Category :
Languages : en
Pages : 62
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Book Description
Author: Matan Feldman
Publisher: John Wiley & Sons
ISBN: 1118160614
Category : Business & Economics
Languages : en
Pages : 294
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Book Description
Seamlessly bridging academic accounting with real-life applications, Crash Course in Accounting and Financial Statement Analysis, Second Edition is the perfect guide to a complete understanding of accounting and financial statement analysis for those with no prior accounting background and those who seek a refresher.
Author: Max Muller
Publisher: AMACOM Div American Mgmt Assn
ISBN: 0814416551
Category : Business & Economics
Languages : en
Pages : 272
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Book Description
Does inventory management sometimes feel like a waste of time? Learn how to maximize your inventory management process to use it as a tool for making important business decisions.
Author: Sanjay Sharma
Publisher: CRC Press
ISBN: 1000457753
Category : Technology & Engineering
Languages : en
Pages : 241
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Book Description
This reference text discusses models and analyzes cases that are useful for material requirements planning (MRP), just-in-time (JIT) environments and supply chain environments, as well as traditional production-inventory systems. It covers important concepts, including production-inventory systems, optimal purchase quantity, optimal production quantity, instantaneous procurement, multiple input items, sensitivity analysis, multiproduct manufacturing, determination of optimum cycle time, fractional backlogging, and incorporating input item procurement and flexibility in the production rate. Aimed at senior undergraduate and graduate students, and professionals in the field of industrial engineering, production engineering and manufacturing science, this text: Provides detailed models/analysis pertaining to various cases which are useful for material requirements planning and supply chain environments Elaborates manufacturing rate flexibility, demand variation and production rate variation Discusses the multi-item manufacturing environment and presents models with backorders, as well as fractional backlogging Analyzes flexible production rates, along with upward and downward variations
Author: United States. Bureau of Industrial Economics
Publisher:
ISBN:
Category : Manufacturing industries
Languages : en
Pages : 276
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Book Description
Author: John W. Toomey
Publisher: Springer Science & Business Media
ISBN: 1461543630
Category : Business & Economics
Languages : en
Pages : 227
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Book Description
The goal of Inventory Management will be to explain the dynamics of inventory management's principles, concepts, and techniques as they relate to the entire supply chain (customer demand, distribution, and product transformation processes). The interrelationships of all functions will be defined. The book concentrates on understanding the many ramifications of inventory management. In today's competitive business environment, inventory management has proven to be most critical, and this book is directed to the management of inventory to assist in better understanding the body of knowledge required to operate in a competitive world. Almost all functions such as sales, engineering, and accounting have an impact and are impacted by inventory management. The book will assist in the training of students as well as APICS CPIM (Certified in Production and Inventory Management) candidates. As such it will not only be a textbook, but also a desk reference for those employees responsible for controlling inventories, and thereby assist in reducing cost, improving customer service, and maximizing capacity. Each chapter concludes with a case study and suggested solution. The case studies tell the story of a growing company, Smith Industries, and the related inventory management problems it had to address. The problems addressed relate to the subject matter of the chapter.
Author: Robert Hall (professeur).)
Publisher: McGraw-Hill
ISBN: 9780870944611
Category : Business & Economics
Languages : en
Pages : 356
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Book Description
Zero Inventories is the definitive work on JIT! It is written for the key people in industry--managers, engineers, staff professionals and foremen, showing how to solve inventory problems and achieve stockless production. Its wide range of topics include: forecasting and inventory control methods; material requirements planning; systems for scheduling operations in manufacturing, procurement, logistics and project planning; systems for master scheduling and corporate planning; organizational problems of installing and managing new systems.
