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    Inventory Control and Management

    Article  in  Journal of the Operational Research Society · March 1993


    DOI: 10.2307/2584204

    CITATIONS READS

    243 11,939

    2 authors, including:

    Jim Freeman
    The University of Manchester
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    Journal of the Operational Research Society Vol. 44, No.3

    mathematicians in research programmes for improving the mathematical modelling of waste


    management programmes; (3) specialists in mathematical programming.
    ALAN J. MAYNE

    lmplementable Marketing Research


    ALAN MERCER
    Prentice-Hall, Heme! Hempstead, 1991. xiv + 165 pp. £16.95
    ISBN 0 13 457532 6
    lmp!ementable Marketing Research is a book which the writer suggests is aimed at all managers
    who might wish to carry out analytical studies of markets or install systems in marketing
    organizations. Emphasis is heavily on implementation with a case study approach illustrating the
    applications of a wide range of techniques and models. The book has eight chapters arranged as
    follows.
    Chapter 1 sets the scene with a discussion on the roles of marketing, pressures of markets and
    models, and their use in handling complexity. The chapter utilizes a classic case study to illustrate
    this modelling approach related to market share in the potato crisp production industry.
    Chapter 2 introduces a mathematical model for market shares and parameter estimation and
    shows clearly the capacity to compare predictions with reality, emphasizing the practicality of the
    technique.
    Chapter 3 utilizes a different mathematical model but with, as in Chapter 2, easily accessible
    data, to examine the fully coated countline biscuit market. It includes, as does the whole book, a
    very good analysis of existing theory and research in this area.
    Chapter 4 deals with simulations, again relying on classic-case data to demonstrate their use and
    limitations.
    Chapter 5: this is a good chapter dealing with promotions. Comparisons of public forecasts with
    actual values of three types of promotions are given in respect of retailer purchase of promoted
    cosmetics, and analysis of store data dealing with promotions.
    Chapter 6: this chapter deals with experiments in relation to the salesforce and pricing. It is
    especially useful on pricing and a practical application of the experimental approach to advertising
    media is illustrated in a case study on cigarettes.
    Chapter 7: this chapter is entitled retailing, but is packed with interesting applications; site
    location, effects of product range on electrical goods and a thorough consideration of space
    elasticities and the consequences on profit of improved shelf space in supermarkets.
    Finally, Chapter 8 deals with industrial markets with a useful section on competitive pricing
    (bidding) and its related complexities.
    The author advises that he wished to produce neither a textbook or a handbook, but more a
    monograph occupying the grey area between. I believe he has succeeded; the book has some very
    good references and the literature reviews throughout enhance the content. I am doubtful about
    the understanding by all managers and suspect that a fairly sophisticated mathematical under-
    standing would be a prerequisite for the reader. Whilst I agree with the 'Implementable' element
    of the title, the book works well on the case study approach. I would, however, have preferred
    greater reference to integrated marketing theory. I do think that the book draws together the
    various models and techniques effectively and provides a valuable one-step reference in this respect.
    LUIZ MOUTINHO

    Inventory Control and Management


    C. D. J. WATERS
    Wiley, Chichester, 1992. xv + 364 pp. £24.95
    ISBN 0 471 93081 4
    This well-structured, comprehensive text is the latest of a number written by Waters, primarily for
    the operations management market.

    316

    Operational Research Society is collaborating with JSTOR to digitize, preserve, and extend access to
    Journal of the Operational Research Society. ®
    www.jstor.org
    Book Selection

    The book aims to provide those with little or no experience of scientific inventory control with
    a broad, not overly mathematical, introduction to many of the stock systems in current use. In the
    main, it achieves this objective very successfully.
    The material is collected together in three distinct sections, the first of which serves as a general,
    non-technical backdrop to the subject. This is effectively the foundation for the two much
    larger sections, concerned, respectively with independent demand inventory systems (covering in
    particular, the EOQ model and its refinements- particularly allowing for known and probabilistic
    demand patterns etc) and dependent demand systems (exemplified by MRP and JIT systems
    etc).
    The treatment throughout is clear and matter-of fact. Sometimes, despite the author's best
    intentions, the formulae involved are fairly demanding, but this is offset to a large extent by an
    overall standard of presentation which is extremely high (as anyone familiar with Waters' work is
    now accustomed to expect).
    Apart from some minor niggles regarding the choice of the notation and occasional repetitive-
    ness, my only real disappointment is that the book features no substantive case type illustrations.
    These could have proven useful for helping put much of the theory described into a more practical
    context. Appropriate cases might also have made more of the role of computers in inventory
    management, which is not over-stressed here.
    Despite these last remarks, I must be honest and admit that I regard the review copy of this book
    as a very worthwhile addition to my management science collection. I am sure that many of you
    will find the same too.
    JIM FREEMAN

    Multicriteria Decision-aid
    PHILLIPE VINCKE
    Wiley, Chichester, 1992. xiii + 154 pp. £29.95
    ISBN 0 471 93184 5
    Finally, a book giving a thorough representation of the so-called French or European approach to
    the multicriteria decision analysis, defined by the author as Multicriteria Decision Aid (MCDA).
    There are substantial reasons for this distinction, the principal one being the will to underline a 'soft'
    decision-aid point of view versus a 'hard' decision making one.
    The book has an obvious teaching origin and appears to be written to support academic courses
    whose main topic is the multicriteria methodology, or for people that are interested in the subject
    for the first time and want a basic and strong introduction to the area.
    The book is divided into seven chapters. The organization of the book gives an idea of the
    author's approach to the subject. Three chapters are dedicated to the principal problems that are
    present when a multicriteria model of a problem situation has to be built. The first chapter
    introduces the problem of defining the set of actions on which the multicriteria evaluation will be
    applied. This is a question generally underestimated in the current theory. Even if the book does
    not provide a complete operational answer it gives a good idea of what happens in real-life
    applications. The second chapter is dedicated to preference modelling, a basic subject in this area,
    again generally neglected. People teaching MCDA will find very helpful the presentation of the
    different preference structures and their consequences on building different orders on the set of
    actions. The third chapter introduces all the preliminary concepts necessary for a multicriteria
    model using any of the three operational approaches to the problem. Again people teaching these
    arguments will find an excellent presentation of all the necessary concepts.
    The next three chapters present the three principal operational approaches in solving a multi-
    criteria problem: multiattribute utility theory, outranking methods and interactive methods. It is
    interesting to notice that each of these approaches is presented in such a way to allow the reader
    to understand what are the suitable situations in which to use these approaches and what are the
    different conclusions to which they lead. This is exactly in the spirit of the book as I understood
    it: give an account of the fundamentals of MCDA instead of a mathematical theory of multicriteria
    decision making.
    317

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