Using simulation to explore the impact of inventory policies on supply chain performance

@article{Setamanit2010UsingST,
  title={Using simulation to explore the impact of inventory policies on supply chain performance},
  author={Siri-on Setamanit},
  journal={PICMET 2010 TECHNOLOGY MANAGEMENT FOR GLOBAL ECONOMIC GROWTH},
  year={2010},
  pages={1-6}
}
To survive in today competitive environment, companies need to improve customer service while reducing costs. One way to address this challenge is to effectively and efficiently managing inventory. Companies carry inventory to ensure the level of customer service and avoid lost sales. However, holding inventory comes with costs such as inventory carrying cost and opportunity cost. There are several inventory policies proposed in the literature which aim to manage the difficult trade-off between… CONTINUE READING
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