1887

n South African Journal of Industrial Engineering - Dynamic inventory models : an illustrative case study

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Abstract

The study revisits the subject matter of inventory control, a continual part of the activities of wide-ranging organisations internationally. The mathematical model is presented of a particular situation that deals with the regular acquisition of a material required for a production process in a volatile environment of varying demand and fluctuating price. The usual process dynamics are demonstrated against a background of diverse choices of probability density function. The model makes use of Normal and Weibull distributions.

Die studie herbesoek die bakermat van voorraadbeheer om hernude klem te lê op die ontwikkeling van gepaste wiskundige modelle vir uiteenlopende voorraadsituasies wat tans internasionaal met welslae gebruik kan word. 'n Rudimentêre model word voorgehou wat desnieteenstaande eenvoud dog onmisbare gereedskap soos Dinamiese Programmering en keuse van kansdigtheidsfunksie voorhou vir stogastiese behandeling van die onbestendige gedrag met verloop van tyd van voorraadprys- en aanvraag. Die model gebruik Normaal- en Weibullverdelings.

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/content/indeng/25/3/EJC165170
2014-11-01
2016-12-09
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