Inventory management models in supply chain and students learning approach

Abstract

There are a lot of inventory management models. Some of them are extremely popular and analyzed by researchers quite often, some of them are left behind the topic. Some inventory management models focus on order planning techniques, others on responsibilities of order placement or stock allocation among warehouses. The traditional inventory management model between seller and buyer is called a two-tier model and is the simplest order placement way. It tells which party has the right to manage inventory and fulfil stock under agreed terms and conditions. Based on the roles, these methods are classified and help to improve the availability of the products, increase sales, and freshness with the lowest possible level of inventory throughout the supply chain and costs. A review of models will be presented seeking to extend the knowledge about inventory management in the supply chain. A revision is combined with the empirical part, under which by analyzing educational tool and its application in students’ classes some interesting results were gathered. Further, the methods covering the learning of the inventory management process is compared, and a new learning approach is proposed.