Stochastic Model of Inventory Control

Abstract:

Optimizing inventory control belongs to fundamental optimization tasks of management of various companies. If some of the variables of the inventory control problem are of stochastic character, it is useful to simulate the problem and subsequently accomplish analysis of obtained data. Such an analysis allows us to choose the optimal inventory control. The present paper describes one of the possible variants of solving such a problem. First, the selected model of inventory management is described and then its implementation in MATLAB is characterized. Finally, the selected parameters for a particular simulation are specified and an essential description of gained data are presented.                                                                                                   

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