With evolution of Industry 4.0, how should we operate our production lines and factories, how should we manage and optimize inventory, how should we deploy our workers, how should we run our businesses, how should we manage our supply chains? This chapter aims to highlight the impact of Industry 4.0 on manufacturing systems and services, as well as supply chains, in particular, on inventory systems and optimization. An integrative R&D framework for inventory systems modeling and optimization is proposed, which directs our R&D effort in modeling and optimizing inventory systems with Industry 4.0.
Part of the book: Industry 4.0