A comparative approach on a non-stationary demand, perishable goods, and fill rate constraint system of the static uncertainty policy to the static-dynamic uncertainty policy
Inventory management strategies perform differently under different circumstances. If a chosen inventory strategy is not the best fit for the situation in which it is applied, there is an opportunity cost of the savings that would have been gotten by applying the best inventory strategy for the cont...
Saved in:
| Main Authors: | , , |
|---|---|
| Format: | text |
| Language: | English |
| Published: |
Animo Repository
2017
|
| Subjects: | |
| Online Access: | https://animorepository.dlsu.edu.ph/etd_bachelors/8029 |
| Tags: |
Add Tag
No Tags, Be the first to tag this record!
|
| Institution: | De La Salle University |
| Language: | English |
| Summary: | Inventory management strategies perform differently under different circumstances. If a chosen inventory strategy is not the best fit for the situation in which it is applied, there is an opportunity cost of the savings that would have been gotten by applying the best inventory strategy for the context. This study aims to compare the performance of two inventory strategies the static uncertainty inventory strategy and the static-dynamic inventory strategy in various environments within a system that has non-stationary demand, perishable goods, and fill rate constraint. Design of experiments was performed on each strategy, giving insight on how various factors interact within the strategies. Each strategy was then run with different scenarios under Monte Carlo simulated demand, giving insight on which scenarios favored which strategies. |
|---|