Simulation in inventory management

In this paper inventory management is analyzed as an organic part of the supply chain managing process. In today’s competitive economic environment traditional inventory policies should be improved. Simulation models enable a priori managing and analyzing variety of possible results and implication of selected inventory policies. The model presented in this paper uses the Monte Carlo simulation method and variables taken as random, in order to depict a harmonization and integration of dynamic quantitative analysis and theoretical, qualitative concepts of inventory management.


Issue Date:
Dec 20 2009
Publication Type:
Journal Article
DOI and Other Identifiers:
ISSN 1804-0519 (Print) ISSN 1804-0527 (Online) (Other)
PURL Identifier:
http://purl.umn.edu/94592
Published in:
Perspectives of Innovations, Economics, and Business
Volume 03
Page range:
98-100
Total Pages:
3
JEL Codes:
C15; C63




 Record created 2017-04-01, last modified 2017-08-25

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