NDLI: System dynamics simulation to determine safety stock for a single-stage inventory system

Content Provider	IEEE Xplore Digital Library
Author	Belhajali, I. Hachicha, W.
Copyright Year	2013
Description	Author affiliation: Unit of Mech., Modeling & Production (U2MP), Eng. Sch. of Sfax, Sfax, Tunisia (Hachicha, W.) \|\| Unit of Logistic, Ind. & Quality Manage. (LOGIQ), Higher Inst. of Ind. Manage., Sfax, Tunisia (Belhajali, I.)
Abstract	In this paper, a single-stage inventory system, which analytical method results exist in previous literature is considered. This case is one of an adaptive base-stock policy for a single-item inventory system, where the demand process is no-stationary. The demand process is modeled as an integrated moving average process for which an exponential-weighted moving average provides the optimal forecast. The case study objective is about how characterize the required inventory and how identify the safety stock requirements. For this purpose, a system dynamics approach is developed through a flow diagram model and simulated using Vensim® software. The results of the comparative study show that system dynamics approach is very useful. The system dynamics models can provide increased comprehension of, and improved insight into, the performance of an inventory system. The extension of system dynamics seems very interesting for the analysis of complex supply chain problems. In fact, analytical methods are perceived to be unhelpful by management or may require oversimplification.
Sponsorship	Tunisair
Starting Page	488
Ending Page	493
File Size	288665
Page Count	6
File Format	PDF
ISBN	9781479903146
e-ISBN	9781479903139
DOI	10.1109/ICAdLT.2013.6568507
Language	English
Publisher	Institute of Electrical and Electronics Engineers, Inc. (IEEE)
Publisher Date	2013-05-29
Publisher Place	Tunisia
Access Restriction	Subscribed
Rights Holder	Institute of Electrical and Electronics Engineers, Inc. (IEEE)
Subject Keyword	System dynamics Supply chains Safety stock Equations Standards Analytical models Simulation Inventory system Software Safety Mathematical model Comparative study Flow diagram
Content Type	Text
Resource Type	Article

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