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
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Czech description
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Classification
Type
J<sub>imp</sub> - Article in a specialist periodical, which is included in the Web of Science database
CEP classification
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OECD FORD branch
21100 - Other engineering and technologies
Result continuities
Project
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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
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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