ERIC Number: EJ1070766
Record Type: Journal
Publication Date: 2015
Pages: 20
Abstractor: As Provided
ISBN: N/A
ISSN: ISSN-1913-9020
EISSN: N/A
Effective Strategy Formation Models for Inventory Management under the Conditions of Uncertainty
Kosorukov, Oleg Anatolyevich; Sviridova, Olga Alexandrovna
International Education Studies, v8 n7 p64-83 2015
The article deals with the problem of modeling the commodity flows management of a trading company under the conditions of uncertain demand and long supply. The Author presents an analysis of modifications of diversified inventory management system with random demand, for which one can find the optimal inventory control strategies, including those taking into account the time value of money and various limitations, thus maximizing the total cash flow. The Author considers stochastic simulation and optimization models which allow a company to reduce the costs of inventory management.
Descriptors: Facility Inventory, Facility Planning, Supply and Demand, Money Management, Simulation, Models, Costs, Decision Making
Canadian Center of Science and Education. 1120 Finch Avenue West Suite 701-309, Toronto, ON M3J 3H7, Canada. Tel: 416-642-2606 Ext 206; Fax: 416-642-2608; e-mail: ies@ccsenet.org; Web site: http://www.ccsenet.org/journal/index.php/es
Publication Type: Journal Articles; Reports - Evaluative
Education Level: N/A
Audience: N/A
Language: English
Sponsor: N/A
Authoring Institution: N/A
Grant or Contract Numbers: N/A