Classification of inventory models and systems

Abstract A new classification system has been developed that simplifies the selection of an appropriate inventory model. Salient inventory models have been classified based on coding significant inventory features for the respective models. It allows practitioners to understand the requirements of specific inventory models/systems, and helps in locating appropriate models for a given set of inventory conditions. This classification of inventory models/systems also serves as an effective teaching tool for learning and comparing various inventory models/systems. Correspondingly, such comparisons will stimulate academic discourse and lead to possible research ideas.

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