Computer simulation for stock strategy in stochastic inventory system

Computer simulation for stock strategy in stochastic inventory system

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Article ID: iaor20063063
Country: China
Volume: 23
Issue: 1
Start Page Number: 119
End Page Number: 123
Publication Date: Jan 2005
Journal: Systems Engineering
Authors: ,
Keywords: spreadsheets
Abstract:

Operations research can be applied to handle the strategy of inventory system under the conditions that demand follows a normal distribution during lead-time, and it is quite possible to use Excel, VBA and Crystal Ball in dealing with stochastic inventory system. By simulating, we can obtain optimized strategy indirectly, and better carry out the stock strategy in managing a stochastic inventory sytem.

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