TY - BOOK ID - 46189567 TI - Inventory Rationing : A New Modeling Approach Using Markov Chain Theory PY - 2007 SN - 3658242558 365824254X PB - Wiesbaden : Springer Fachmedien Wiesbaden : Imprint: Springer Gabler, DB - UniCat KW - Inventory control. KW - Control, Inventory KW - Inventory management KW - Stock control KW - Business logistics KW - Physical distribution of goods KW - Production control KW - Inventories KW - Econometrics. KW - Economics, Mathematical KW - Statistics UR - https://www.unicat.be/uniCat?func=search&query=sysid:46189567 AB - The last decades have seen an increasing diversity of customer expectations and growing competitive pressure for a wide variety of industries. Customer segmentation and subsequent inventory rationing provide a way to cope with those customer demands while maintaining a competitive offer. The general idea resembles the yield management practised in the airline or hotel industries: Demand fulfilment for low priority customers might be refused or delayed in order to reserve stock for more important clients. This dissertation thesis from Karin Möllering provides a comprehensive introduction to inventory rationing. It gives an overview of the different approaches studied and identifies state-of-the-art rules. In a second step, the book particularly focuses on an easy-to-implement but highly efficient rationing strategy. For this strategy, a mathematical model is developed that allows for optimization under different objectives. Potential readership includes scholars of inventory control and management science, students interested in these areas as well as practitioners involved in formulating and implementing rationing strategies. ER -