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Macmillan Higher Education Palgrave Higher Education

Simulation and Inventory Control

ISBN 9780333794296
Publication Date February 2001
Formats Hardcover 
Publisher Palgrave
Series Texts in Operational Research

Aimed at final year undergraduate students, this is the first volume to publish in a new series of text covering core subjects in operational research in an accessible student-friendly format. This volume presents simulation paired with inventory control. The Operational Research Series aims to provide a new generation of European-originated texts of practical relevance to todays student. To guarantee accessibility, the texts are concise and have a non-mathematical orientation. These texts will provide students with the grounding in operational research theory they need to become the innovators of tomorrow.

ROGER BROOKS is a lecturer in the Department of Management Science at Lancaster University.

STEWART ROBINSON is a lecturer at Warwick Business School, Warwick University.

COLIN LEWIS was previously a Professor at Aston Business School with a long-term interest in the behaviour of Stochastic Processes such as demand forecasting, inventory control and statistical process control.

BOOK 1: SIMULATION
Introduction
How a Simulation Model Works
Software for Simulation
Performing Simulation Studies
Further Topics in Simulation
Conclusion
Questions
BOOK 2: INVENTORY CONTROL
Introduction
Demand Forecasting and Inventory Control
Selecting and Monitoring Forecasting Systems for Inventory Control
The Re-Order Level Policy (Setting the Re-Order Level)
The Re-Order Level Policy (Examining the Size of the Replenishment Quantity)
The Re-Order Level Policy (Examining the Relationship Between the Re-Order Level and the Replenishment Order Size)
The Re-Order Cycle Policy (Establishing the Value of the review Period and the Maximum Stock Level)
Pareto or ABC Analysis (as a Vehicle for Inventory Policy Allocation).

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