How discretization affects intermittent demand stock management based on simulation

Result code in IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F46747885%3A24310%2F23%3A00011493" target="_blank" >RIV/46747885:24310/23:00011493 - isvavai.cz</a>

Result on the web

<a href="https://www.ijsimm.com/Full_Papers/Fulltext2023/text22-4_660.pdf" target="_blank" >https://www.ijsimm.com/Full_Papers/Fulltext2023/text22-4_660.pdf</a>

DOI - Digital Object Identifier

<a href="http://dx.doi.org/10.2507/IJSIMM22-4-660" target="_blank" >10.2507/IJSIMM22-4-660</a>

Result language

angličtina

Original language name

How discretization affects intermittent demand stock management based on simulation

Original language description

This paper is aimed at the development of an alternative combinatorial strategy of reducing searched solution space in intermittent demand stock management based on the past stock movement simulation. The combinatorial strategy involves an adjustable level of the discretization of control variables that are used within a selected inventory control policy. We combine this new strategy with the local search employing linear regression and bootstrapping to bound the reorder point and simulate (Q, R) inventory control policy using randomly generated data. The data is characteristic with an increasing intermittency and a non-zero demand variability. The outputs from simulation experiments show that combining two different strategies of reducing searched solution space brings a significant improvement in the trade-off among the minimal holding and ordering costs, required service level and the consumption of the computational time making the past stock movement simulation to be more applicable in extensive real life tasks.

Czech name

—

Czech description

—

Type

J_imp - Article in a specialist periodical, which is included in the Web of Science database

CEP classification

—

OECD FORD branch

21100 - Other engineering and technologies

Project

—

Continuities

S - Specificky vyzkum na vysokych skolach

Publication year

2023

Confidentiality

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

Name of the periodical

International Journal of Simulation Modelling

ISSN

1726-4529

e-ISSN

—

Volume of the periodical

vol. 22

Issue of the periodical within the volume

no. 4

Country of publishing house

AT - AUSTRIA

Number of pages

12

Pages from-to

598-609

UT code for WoS article

001129017600003

EID of the result in the Scopus database

2-s2.0-85180428399