Addressing the need for the study of supply chain management to evolve at the same pace as it's real-world practice, Fundamentals of Supply Chain Theory presents the methodology and foundations of the topic and also demonstrates how recent developments build upon classic models. The authors focus on strategic and tactical aspects of supply chain management, covering a broad range of topics from forecasting, inventory management, and facility location to process flexibility, contracting, and auctions.

Key mathematical models for optimizing the design, operation, and evaluation of supply chains are presented as well as models currently emerging from the research frontier. Following a thorough introduction, the book delves into a discussion of centralized models, including:

• Forecasting and demand modeling
• Deterministic inventory models
• Stochastic inventory models
• Multi-Echelon inventory models
• Processes for dealing with uncertainty in inventory optimization and facility location
• Facility location models
• Process flexibility

In addition, the authors present decentralized models that involve multiple parties with independent, conflicting objectives, covering topics such as:

• The bullwhip effect
• Supply chain contracts
• Auctions

Each chapter concludes with a set of problems that challenge readers to understand, interpret, and extend the discussed models and algorithms. In addition, extensive appendices provide guidance on writing proofs and also outline helpful formulas related to probability theory, calculus, and algebra.

Extensively class-tested to ensure an easy-to-follow presentation, Fundamentals of Supply Chain Theory is a suitable book for business and engineering courses on supply chain management at the graduate level. The book also serves as an authoritative reference for academics and practitioners working in the areas of operations research, business, management science, and industrial engineering.

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