On Determining Reorder Point and Reorder Quantity In A Probabilistic Inventory Model /حول تحديد نقطة إعادة الطلب وكمية إعادة الطلب في نموذج المخزون المحتمل

In seeking to optimize inventory systems, we may occasionally encounter complex factors that cannot be solved with simple formulas or tabular data. Even advanced mathematical approaches may prove inadequate or too unwieldy. In such situations, the only practical option available is to use simulation...

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Główni autorzy: El-Shafei, Al W. A. M., . Mahdy, M. A. M.
Wydane: INP 2024
Dostęp online:http://repository.inp.edu.eg//handle/123456789/5887
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Streszczenie:In seeking to optimize inventory systems, we may occasionally encounter complex factors that cannot be solved with simple formulas or tabular data. Even advanced mathematical approaches may prove inadequate or too unwieldy. In such situations, the only practical option available is to use simulation techniques, usually with the aid of a computer. In this problem, we will attempt to search for the best values of the reordering point and reorder quantity of a consumer product for the sake of minimizing costs. In such a situation, two extremes must be avoided: having too many units in store, which results in excessive inventory holding costs and the possibility of deterioration and obsolescence. On the other hand, a small inventory size might result in stock-out periods and considerable financial losses. It is evident that a balance between these two extremes, based on cost optimization, would be ideal.