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      • Department of Industrial Engineering
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      Can accessing much data reshape the theory? Inventory theory under the challenge of data-driven systems

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      Author(s)
      Erkip, Nesim Kohen
      Date
      2022-08-24
      Source Title
      European Journal of Operational Research
      Print ISSN
      0377-2217
      Electronic ISSN
      1872-6860
      Publisher
      Elsevier
      Pages
      1 - 11
      Language
      English
      Type
      Review
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      Abstract
      In this review, we discuss the data-driven systems and their effects on the implementation of the inventory theory. After overviewing the theory briefly, we group the data-driven approaches to simplify exposition. We consider the use of available data to estimate the parameters of more complex models, and propose developing the theory in that direction, as well. As a pedagogical example, an extension of the standard EOQ model with heterogenous customers is presented. The review proposes a research agenda for inventory problems and concludes with discussing challenges for the future.
      Keywords
      Data-driven inventory problems
      Inventory
      Inventory problem with heterogenous customers
      Review
      Permalink
      http://hdl.handle.net/11693/112050
      Published Version (Please cite this version)
      https://dx.doi.org/10.1016/j.ejor.2022.08.024
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      • Department of Industrial Engineering 758
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