Simulation study of inventory management in supply chains
Well-organized management of the supply chain involves control of inventory levels and fast response to the changing customer demands. The enterprises can not cope with this problem which contributes to the growing stock levels and therefore increases costs. Thus, the main focus of this paper lies on the use of computer simulation techniques in order to emulate the supply chain system and its stochastic behaviour. The procedure for the usage of simulation modeling was described with a case study containing an analysis of online store. The simulation results are presented using statistical parameters, which means that the managers can get not only information concerning the expected value of the parameter looking decision-making, but also statistics to the characteristics of the risk associated with the decision associated with possible uncertainty.
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