INVENTORY CONTROL SIMULATION WITH PROBABILISTIC DEMAND GENERATORS.
Abstract
The inventory control problem is examined. A FORTRAN program is developed, which evaluates the performance os an inventory against simulated demands derived from generators according to Poisson, negative binominal, and normal probability laws. The program is tested using data obtained from an actual inventory control point and four sets of simple decision rules. The results indicate that simulation is a good way to test decision rules and to demonstrate the results of arbitrary restraints such as budgetary restrictions. (Author)
Document Details
- Document Type
- Technical Report
- Publication Date
- Jan 01, 1964
- Accession Number
- AD0479603
Entities
People
- Frank T. Maynard
Organizations
- Naval Postgraduate School