Literature Review on Shortage Cost Modeling in Inventory Management

Mohamed Selmi, Zied Jemai, Laurent Grégoire, Yves Dallery

Abstract

In this article, we emphasize on one hand the importance of quantifying the shortage cost in order to measure the optimal parameters for any selected inventory policy and thus enhance the performance of the supply chain and on the other hand the complexity of doing so. Then, we provide a detailed literature review of the existing various models for quantifying the shortage cost in an inventory management context along with a classification of this literature under three categories: Theoretical descriptive models, empirical approaches and simulation based models. Finally, we point out some gaps in this literature such as the lack of continuity of research in this field and the absence of generic fairly easy to apply but accurate methods and we suggest a few future perspectives.

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Paper Citation


in Harvard Style

Selmi M., Jemai Z., Grégoire L. and Dallery Y. (2019). Literature Review on Shortage Cost Modeling in Inventory Management.In Proceedings of the 8th International Conference on Operations Research and Enterprise Systems - Volume 1: ICORES, ISBN 978-989-758-352-0, pages 322-329. DOI: 10.5220/0007370203220329


in Bibtex Style

@conference{icores19,
author={Mohamed Selmi and Zied Jemai and Laurent Grégoire and Yves Dallery},
title={Literature Review on Shortage Cost Modeling in Inventory Management},
booktitle={Proceedings of the 8th International Conference on Operations Research and Enterprise Systems - Volume 1: ICORES,},
year={2019},
pages={322-329},
publisher={SciTePress},
organization={INSTICC},
doi={10.5220/0007370203220329},
isbn={978-989-758-352-0},
}


in EndNote Style

TY - CONF

JO - Proceedings of the 8th International Conference on Operations Research and Enterprise Systems - Volume 1: ICORES,
TI - Literature Review on Shortage Cost Modeling in Inventory Management
SN - 978-989-758-352-0
AU - Selmi M.
AU - Jemai Z.
AU - Grégoire L.
AU - Dallery Y.
PY - 2019
SP - 322
EP - 329
DO - 10.5220/0007370203220329