Interview with Dr. Ataollah Taleizadeh, Author of “Inventory Management under Uncertainty” Published by Springer

Question: What is the subject of your book?

Answer: The subject of my book is inventory management under uncertainty. This book examines various methods and strategies for managing inventory in situations where accurate forecasting of demand and supply of raw materials is challenging.

Question: What problems does this book address?

Answer: The book helps managers and business owners optimize their inventory management using innovative and flexible methods, preventing issues such as inventory shortages or surpluses. It also provides solutions for dealing with market fluctuations and supply chain disruptions.

Question: Who is the target audience for this book?

Answer: It is suitable for supply chain managers, production managers, and business owners of both small and large enterprises facing challenges in inventory management under uncertainty. Meanwhile, students and researchers in management and industrial engineering fields can also benefit from its content.

Question: What kind of information can readers gain from the book?

Answer: By reading this book, readers can become familiar with modern inventory management methods and enhance their ability to cope with critical and unstable conditions. The book also helps improve supply chain efficiency and reduce inventory holding costs.

A summary of the Book In today’s world:

Inventory management is one of the biggest challenges for manufacturing and industrial companies. Raw material inventory constitutes a significant portion of these companies’ assets, and proper management has a substantial impact on financial and production performance. Effective inventory management not only helps reduce costs and improve profitability but also plays a role in setting competitive prices for final products. Given the pressures from customer expectations for lower prices and competitive market conditions, inventory management and production planning become more complex. One of the main tools in this field is the Economic Production Quantity (EPQ) model, developed to reduce overall production and inventory holding costs. However, real-world challenges such as equipment failures and machinery wear and tear contradict the model’s assumption of defect-free production. These challenges lead to rework, repair of defective items, and increased operational costs. Our new book focuses on inventory management under uncertainty, offering innovative approaches to dealing with random factors and unknown variables. Topics such as defective item rates, random demand, variable quality, and random delays are examined in this book. Additionally, concepts related to rework, including defective item rates, reproduction quality, and random inspection errors, are comprehensively analyzed. By presenting stochastic inventory management models, this book helps reduce costs associated with defects and inefficient processes, enhancing the productivity of production systems.