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Speeding Up Past Stock Movement Simulation in Sporadic Demand Inventory Control

The result's identifiers

  • Result code in IS VaVaI

    <a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F46747885%3A24310%2F23%3A00010879" target="_blank" >RIV/46747885:24310/23:00010879 - isvavai.cz</a>

  • Result on the web

    <a href="http://www.ijsimm.com/Full_Papers/Fulltext2023/text22-1_627.pdf" target="_blank" >http://www.ijsimm.com/Full_Papers/Fulltext2023/text22-1_627.pdf</a>

  • DOI - Digital Object Identifier

    <a href="http://dx.doi.org/10.2507/IJSIMM22-1-627" target="_blank" >10.2507/IJSIMM22-1-627</a>

Alternative languages

  • Result language

    angličtina

  • Original language name

    Speeding Up Past Stock Movement Simulation in Sporadic Demand Inventory Control

  • Original language description

    This paper is aimed at speeding up past stock movement simulation in sporadic demand inventory control making it more suitable to deal with large scale real life problems connected for example with stock management of spare parts used in the maintenance of production equipment. Thus, in continuous review, fixed order quantity inventory control policy, we suggest reducing number of simulated combinations of reorder point and replenishment order quantity replacing all combinations search with the local search. The local search is based on minimal and maximal reorder point coming from linear regression and bootstrapping. When simulating randomly generated intermittent data with increasing nonzero demand quantities the significant savings of computational time are reached while bringing up to 50 % of simulated timeseries to reach the best possible holding and ordering costs and another 40 % to reach the maximal deterioration of these costs up to 15 %. Upgraded simulation represents efficient, data driven and assumptions free approach to the sporadic demand stock management outperforming individual application of parametric forecasting methods.

  • Czech name

  • Czech description

Classification

  • Type

    J<sub>imp</sub> - Article in a specialist periodical, which is included in the Web of Science database

  • CEP classification

  • OECD FORD branch

    21100 - Other engineering and technologies

Result continuities

  • Project

  • Continuities

    S - Specificky vyzkum na vysokych skolach

Others

  • Publication year

    2023

  • Confidentiality

    S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Data specific for result type

  • Name of the periodical

    International Journal of Simulation Modelling

  • ISSN

    1726-4529

  • e-ISSN

  • Volume of the periodical

    22

  • Issue of the periodical within the volume

    1

  • Country of publishing house

    AT - AUSTRIA

  • Number of pages

    11

  • Pages from-to

    41-51

  • UT code for WoS article

    000983931000004

  • EID of the result in the Scopus database

    2-s2.0-85150355231