Simulation in inventory management

Aleksandra Marcikic and Boris Radovanov

Perspectives of Innovations, Economics and Business (PIEB), 2009, vol. 03, 3

Abstract: In this paper inventory management is analyzed as an organic part of the supply chain managing process. In today’s competitive economic environment traditional inventory policies should be improved. Simulation models enable a priori managing and analyzing variety of possible results and implication of selected inventory policies. The model presented in this paper uses the Monte Carlo simulation method and variables taken as random, in order to depict a harmonization and integration of dynamic quantitative analysis and theoretical, qualitative concepts of inventory management.

Keywords: Research; and; Development/Tech; Change/Emerging; Technologies (search for similar items in EconPapers)
Date: 2009
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Persistent link: https://EconPapers.repec.org/RePEc:ags:jrpieb:94592

DOI: 10.22004/ag.econ.94592

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