Perspectives of Innovations, Economics and Business

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Volume 3
Issue 3
Online publication date 2009-12-07
Title Simulation in inventory management
Author Aleksandra Marcikic, Boris Radovanov
In this paper inventory management is analyzed as an organic part of the supply chain managing process. In today’s competitive economic environment traditional inventory policies should be improved. Simulation models enable a priori managing and analyzing variety of possible results and implication of selected inventory policies. The model 
presented in this paper uses the Monte Carlo simulation method and variables taken as random, in order to depict a harmonization and integration of dynamic quantitative analysis and theoretical, qualitative concepts of inventory management.
Chopra, S., Meindl, P., 2004. Supply Chain Management: Strategy, Planning and Operation, Pearson Education International, New Jersey

Kiš, T., Čileg, M., Vugdelija D., Sedlak O., 2005. Kvantitativni metodi u ekonomiji, Ekonomski fakultet, Subotica

Letić D., Jevtić V., 2001. Operaciona istraživanja, Tehnički fakultet Mihajlo Pupin, Zrenjanin.
Shapiro F., 2001. Modeling the Supply Chain, Duxbury Thomson Learning, Pacific Grove, CA.
Stojković, M., 2001. Statistika, Ekonomski fakultet, Subotica

Vunjak M., 2005. Finansijski menadžment, Ekonomski fakultet Subotica

Keywords Monte Carlo simulation, modeling, inventory management, supply chain management.
Pages 98-100
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