Year: 2025
Type: article
Abstract: Operations Research (OR) plays a pivotal role in solving complex decision-making problems through scientific and mathematical modelling techniques. Among its various applications, inventory modelling holds significant importance in manufacturing, supply chain management, and service operations. This paper presents an in-depth analysis of inventory modelling in OR, exploring its evolution, mathematical foundations, practical implications, and advanced model types. By synthesizing classical theories and contemporary models such as deteriorating inventory, partial backlogging, inflation-affected inventories, and two-warehouse systems, this study provides a broad yet detailed perspective of inventory control. The literature review section offers a chronological survey of landmark contributions, emphasizing the relevance of dynamic and stochastic environments. Finally, the paper identifies future research directions, particularly in addressing uncertainty, sustainability, and integrated supply chain inventory optimization.
Authors: Vittal Gondkar, Harsh Vardhan
Institution: Shri Venkateshwara University
Language: English
Subfield: Management Information Systems
Domain: Social Sciences
Open Access status: bronze
OpenAlex ID: W4413229571