NUMERICAL ILLUSTRATIONS FOR LOW DEMAND INVENTORY MODELS

Abstract

This report contains a qualitative evaluation, by numerical means, of the mathematical models that were developed. This evaluation describes the relative cost advantage of one model with respect to the others as parameters such as unit cost, yearly demand, and lead time change. To do this an IBM 7090 computer was programmed to solve the cost equations of the models. The programs are included in this report for future reference and use. This report also contains a simulated illustration of some of the models. A simulated series of random demands was for three models and the simulated costs compared to the cost predicted by the cost equations. The construction of the simulation as well as a description of the results is presented. The scope is a limited one; the report should not be considered as a full simulation of the low demand models, but it should be regarded as a numerical illustration of the models described in Low Demand Inventory Models.

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Document Details

Document Type
Technical Report
Publication Date
Jul 01, 1961
Accession Number
AD0407938

Tags

DTIC Thesaurus Topics

  • Computer Programs
  • Computers
  • Equations
  • Government Procurement
  • Inventory
  • Lead Time
  • Mathematical Models
  • Models
  • Procedures (Computers)
  • Procurement
  • Random Number Generators
  • Sampling
  • Simulations
  • Standards
  • Statistical Sampling
  • Test And Evaluation
  • Time Intervals

Readers

  • Computational Modeling and Simulation
  • Life Cycle Cost Analysis
  • Logistics and Supply Chain Management.