Please use this identifier to cite or link to this item: https://doi.org/10.21256/zhaw-1883
Title: Inventory management based on simulation of ordering process
Authors : Heitz, Christoph
Gomez, Claudio
Proceedings: Challenges of globalization for Swiss manufacturing and logistics : proceedings of the 3rd IPLnet workshop, september 9-10, 2003, Ebnat-Kappel, Switzerland
Conference details: IPLnet 2003 Workshop, Institut für Produktions- und Logistiksysteme, Ebnat-Kappel, 9–10 September 2003
Editors of the parent work: Heitz, Christoph
Publisher / Ed. Institution : Zurich University of Applied Sciences Winterthur ZHW
Publisher / Ed. Institution: Winterthur
Issue Date: 2004
Language : Englisch / English
Subject (DDC) : 658.5: Produktionssteuerung
Abstract: Inventory management is one of the key operational functions of a company which, in the context of modern Supply Chain Management schemes, plays an important role both for the company itself and the coordination with the SC partners. Especially the aspect of service level and stockout probability has become critical. Classical methods of inventory management are based on simple analytical formulae which, however, only treat special cases. In this contribution we present a tool for the optimization of inventory management which is based on a simulation of the ordering processes. The full stochastic properties of the ordering process are incorporated which allows an accurate determination of performance measures like service level. With this tool, the determination of cost-minimal inventory parameters (reorder level, reorder quantity) for given stockout probability is easily possible.
Departement: School of Engineering
Organisational Unit: Institut für Datenanalyse und Prozessdesign (IDP)
Publication type: Konferenz: Paper / Conference Paper
Type of review: Keine Angabe / Not specified
DOI : 10.21256/zhaw-1883
ISBN: 978-3033000599
URI: https://digitalcollection.zhaw.ch/handle/11475/4305
License (according to publishing contract) : Lizenz gemäss Verlagsvertrag / Licence according to publishing contract
Appears in Collections:Publikationen School of Engineering

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