Logistics in the age of volatility: inventory management under uncertainty of supply and demand
This thesis aims to present a simulation model of a supply chain system with three nodes and a continuous review policy facing uncertain demand and constant lead times. We introduce a broad overview of supply chains, supply chain management, strategies, responsiveness, and efficiency; we describe k...
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| Language: | en_US |
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2023
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| Online Access: | http://hdl.handle.net/11610/25148 |
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| Summary: | This thesis aims to present a simulation model of a supply chain system with three nodes and a continuous review policy facing uncertain demand and constant lead times. We introduce a broad overview of supply chains, supply chain management, strategies, responsiveness, and efficiency; we describe key processes and performance drivers in supply chains; and we showcase their study through qualitative and quantitative models in general and through simulation in particular. Finally, we create a simulation model using the ARENA simulation software package and perform tests to determine the effect of controlled variables – such as the replenishment order quantities and reorder points for the retailer and the warehouse of the system under review – on performance drivers such order fill rate, service level, inventory levels, satisfied and backordered customers. Finally, we pinpoint the current study’s limitations and suggest avenues for further research. |
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