Order Level Optimization in Inventory Management Using Arena Simulation Model

Mitrović, Milica; Popović, Dražen; Vidović, Milorad; Radivojević, Gordana

doi:10.7708/ijtte.2021.11(2).06

i

Order Level Optimization in Inventory Management Using Arena Simulation Model

2021-01-25
By Mitrović, Milica ; Popović, Dražen ; Vidović, Milorad

File Language:

English

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Creators:

Mitrović, Milica ; Popović, Dražen ; Vidović, Milorad ; Radivojević, Gordana
Corporate Creators:

University of Belgrade
Subject/TRT Terms:
DOI:

https://doi.org/10.7708/ijtte.2021.11(2).06
Resource Type:

Journal Article
Right Statement:

Open Access
Geographical Coverage:

Serbia
Corporate Publisher:

University of Belgrade
Abstract:

By adequately managing inventories, companies adjust demand and supply over time to provide the necessary goods to meet customer requirements and make a profit. A simulation is a great tool for optimizing inventory management by examining system behavior in a variety of settings. This paper presents a simulation model developed in ARENA software to optimize inventory management, i.e. to determine the level of inventory at which it is necessary to order goods for which the system generates minimal total costs.
Content Notes:

This article is Open Access.
Format:

PDF
Download URL:

https://rosap.ntl.bts.gov/view/dot/56580/dot_56580_DS1.pdf
File Type:

[PDF - 377.64 KB]
Collection(s):

US Transportation Collection
Main Document Checksum:

urn:sha256:18d73418995c0e525ffcef99575343c8f4f75a304ff334bdb4cd19529c0a034f

File Language:

English

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