Inventory Management with Dynamic Bayesian Network Software Systems

Taylor, Mark and Fox, Charles (2011) Inventory Management with Dynamic Bayesian Network Software Systems. In: International Conference on Business Information Systems. Lecture Notes in Business Information Processing . Springer, pp. 290-300. ISBN 978-3-642-21863-7

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Inventory Management with Dynamic Bayesian Network Software Systems

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Inventory management at a single or multiple levels of a supply chain is usually performed with computations such as Economic Order Quantity or Markov Decision Processes. The former makes many unrealistic assumptions and the later requires specialist Operations Research knowledge to implement. Dynamic Bayesian networks provide an alternative framework which is accessible to non-specialist managers through off-the-shelf graphical software systems. We show how such systems may be deployed to model a simple inventory problem, and learn an improved solution over EOQ. We discuss how these systems can allow managers to model additional risk factors throughout a supply chain through intuitive, incremental extensions to the Bayesian networks.

Keywords:inventory, supply chain management, SCM, supply chain, bayesian networks
Subjects:G Mathematical and Computer Sciences > G200 Operational Research
Divisions:College of Science > School of Computer Science
ID Code:36756
Deposited On:22 Aug 2019 07:41

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