This page presents a case study which is an example of an Inventory Problem. The goal is to illustrate several concepts of simulation via an example where we motivate simulation as a tool for estimating the long term profit rate and, later, also for optimizing the inventory policy in order to maximize profits.
You will find here the concepts of:
which take you by the hand (or so we hope) from beginning to end of preparing a simulation.
We also introduce optimization methods to find the best ordering levels of the inventory (in progress).
HOW TO BROWSE: The topics within this example are "ordered" logically, as shown in the floating menu, but you can jump around and go back and forth depending on what you want to review.
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