Simulation and Inventory Control
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Persons
STEWART ROBINSON is a lecturer at Warwick Business School, Warwick University.
COLIN LEWIS was previously a Professor at Aston Business School with a long-term interest in the behaviour of Stochastic Processes such as demand forecasting, inventory control and statistical process control.
Content
BOOK 1: SIMULATION.- Introduction.- How a Simulation Model Works.- Software for Simulation.- Performing Simulation Studies.- Further Topics in Simulation.- Conclusion.- Questions.- BOOK 2: INVENTORY CONTROL.- Introduction.- Demand Forecasting and Inventory Control.- Selecting and Monitoring Forecasting Systems for Inventory Control.- The Re-Order Level Policy (Setting the Re-Order Level).- The Re-Order Level Policy (Examining the Size of the Replenishment Quantity).- The Re-Order Level Policy (Examining the Relationship Between the Re-Order Level and the Replenishment Order Size).- The Re-Order Cycle Policy (Establishing the Value of the review Period and the Maximum Stock Level).- Pareto or ABC Analysis (as a Vehicle for Inventory Policy Allocation).