MONTE CARLO TECHNIQUES OF SIMULATION APPLIED TO A SINGLE ITEM INVENTORY SYSTEM.

Abstract

This study is devoted to the following objectives: (1) A brief introduction of the basic principles underlying inventory control problems along with a discussion of selected approaches to their solution; (2) A description of the usefulness of simulation studies of inventory systems and the basic concepts involved; and (3) A thorough analysis of a real world inventory problem and the two computer programs written to simulate the situation and evaluate the economic impact of varying local inventory policies.

Document Details

Document Type
Technical Report
Publication Date
Aug 01, 1965
Accession Number
AD0624664

Entities

People

  • William Murray Aldred Jr.

Organizations

  • Texas A&M University

Tags

DTIC Thesaurus Topics

  • Computer Programs
  • Computers
  • Control Simulators
  • Economic Impact
  • Inventory
  • Inventory Control
  • Simulations
  • Simulators

Readers

  • Computational Modeling and Simulation
  • Logistics and Supply Chain Management.
  • Theoretical Analysis.