Managing Inventory Systems Using Optimization
Loading...
Date
2011-10-05
Authors
Journal Title
Journal ISSN
Volume Title
Publisher
Abstract
In managing inventory systems, proper simulation of the inventory or stock levels is very likely to reduce holding cost, losses and improve general customer satisfaction or profit. This thesis aims to investigate simulation optimization of an Inventory Management System. It also discusses Optimal Inventory Policy (cost saving in inventory management and maximizing profit). A mathematical model is used for this purpose. Also a case study adjusts mathematical model to practicality of Toyota Ghana Company Limited business situation.
Description
A Thesis Submitted to the Department of Mathematics, Kwame Nkrumah University of Science and Technology, Kumasi, in partial fulfillment of the requirement for the degree of Master of Science in Industrial Mathematics, Institute of Distance Learning.