Simulation-based optimisation of replenishment policy in supply chains

Tomasz Wiśniewski and Rafał Szymański

International Journal of Logistics Systems and Management, 2021, vol. 38, issue 2, 135-150

Abstract: Classic replenishment strategy may no longer be effective due to the increasing complexity of supply chains. The article presents the problem of inventory management while presenting a practical methodology for supporting inventory replenishment decisions in order to reduce maintenance costs. Therefore, the possibility has been shown of using simulation modelling of the supply chain. The aim of the article is to present the methodology, using computer simulation with optimisation, of searching for the optimal strategy of replenishment of stocks in supply chains, especially when there is a problem of uncertainty of the demand. A case study was presented - optimisation of inventory of an online shop with electronics. The results obtained prove the high usefulness of the proposed methodology, as compared to the initial method of replenishing, it was possible to reduce the time of storage of goods by 66%, which translates into lowering the costs in a simple way.

Keywords: supply chain; replenishment strategy; optimisation; simulation modelling. (search for similar items in EconPapers)
Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:ids:ijlsma:v:38:y:2021:i:2:p:135-150

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