A simulation-based approach for evaluating diverse inventory policies in a supply chain

Xudong, X, Kumar, A and Tan, A 2008, 'A simulation-based approach for evaluating diverse inventory policies in a supply chain', International Journal of Simulation and Process Modelling, vol. 4, no. 1, pp. 18-30.


Document type: Journal Article
Collection: Journal Articles

Title A simulation-based approach for evaluating diverse inventory policies in a supply chain
Author(s) Xudong, X
Kumar, A
Tan, A
Year 2008
Journal name International Journal of Simulation and Process Modelling
Volume number 4
Issue number 1
Start page 18
End page 30
Total pages 13
Publisher Inderscience Publishers
Abstract Most of the current literature in supply chain inventory management focuses solely on series systems in which the analytical models become too complicated to be solved when considering various inventory policies concurrently. The authors present a new simulation-based approach to evaluate the inventory policies in a supply chain that analyses continuous and periodic review policies. Further, this paper proposes a combined performance measure, which considers total supply chain cost and customer service level using a case study. Based on the design of experiment, comparison is made on the impact of different configuration of inventory policies upon the combined performance measurement.
Subject Business and Management not elsewhere classified
Keyword(s) supply chain management
SCM
inventory policies
DES
validation
t-testing comparison
discrete event simulation
inventory management
supply chain costs
customer service levels
performance measurement.
DOI - identifier 10.1504/IJSPM.2008.020610
ISSN 1740-2123
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