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| Author: | Cao, Q. Patterson, J. W. Melkonian, J. |
| Title: | A three-stage simulation based approach to inventory management with discrete demand (Lagerwirtschaft; Statistische Methode; Lagerhaltungsmodell) |
| Journal: | International Journal of Production Research
1996 : SEP, VOL. 34:9, p. 2553-2563 |
| Index terms: | |
| Language: | eng |
| Abstract: | This paper proposes a three-stage simulation-based approach to determine target inventory level for a plastic moulding company. The classical formula of a periodic review inventory system requires continuous demand with a normal distribution. This is often not the case. The presented model includes inventory management, production planning and control, finished goods shipment, and functional area of manufacturing. Analysis of simulation results indicates an inventory reduction plan and the feasibility of a layout design to relocate equipment for the plant. |
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