Provides sound knowledge of optimal decision making in statistics and operations research problems. Serves a quick reference by exploring the research literature on the subject with commercial value-added research applications in statistics and operations research. Provides sound knowledge of optimisations and statistical techniques in modelling of real-world problems. Reviews recent developments and contributions in optimal decision-making problems using optimisation and statistical techniques. Provides an understanding of formulations of decision-making problems and their solution procedures. Describes latest developments in modelling of real-world problems and their solution approaches.

This book provides several inventory models for making the right decision in inventory management under different environments. Basically, the optimal ordering policies are determined for situations with and without shortages in production-inventory systems. The chapters in the book include various features of inventory modeling i.e., inflation, deterioration, supply chain, learning, credit financing, carbon emission policy, stock-dependent demand, among others. The book is a useful resource for academicians, researchers, students, practitioners, and managers who can be benefited with the policies provided in the chapters of the book.

This book provides several inventory models for making the right decision in inventory management under different environments. Basically, the optimal ordering policies are determined for situations with and without shortages in production-inventory systems. The chapters in the book include various features of inventory modeling i.e., inflation, deterioration, supply chain, learning, credit financing, carbon emission policy, stock-dependent demand, among others. The book is a useful resource for academicians, researchers, students, practitioners, and managers who can be benefited with the policies provided in the chapters of the book.