Improving agility of supply chains using base stock model and computer based simulations

@inproceedings{Verma2006ImprovingAO,
  title={Improving agility of supply chains using base stock model and computer based simulations},
  author={Alok Kumar Verma},
  year={2006}
}
Purpose – The purpose of this paper is to deal with the application of the stochastic inventory model to the three‐tier supply chain and verify the values obtained by mathematical model in physical simulation.Design/methodology/approach – The paper investigates three‐stage serial supply chain with stochastic demand and fixed replenishment lead‐time. Inventory holding costs are charged at each stage, and each stage may incur a consumer backorder penalty cost charged by primary supplier to… CONTINUE READING