A Proposed Approach to Extend the Economic Order Quantity (EOQ) Model Using Discrete Event Simulation - Advances in Production Management Systems: Value Networks: Innovation, Technologies, and Management Access content directly
Conference Papers Year : 2012

A Proposed Approach to Extend the Economic Order Quantity (EOQ) Model Using Discrete Event Simulation

Abstract

The economic order quantity (EOQ) and the economic production quantity (EPQ) are well-known and commonly used inventory control techniques. The standard results are easy to apply but are based on a number of unrealistic assumptions. One of the assumption is that the demand is normally distributed in any interval. In several practical cases the assumption about independence of successive demands, and consequently demand normal distribution in any interval, is not supported by real data. This paper investigates the effects on the expected service level (SL) after relaxing normal distribution assumption on the demand. The present work shows a possible strategy to use classic inventory model, such as EOQ/EPQ model, adopting discrete event simulation analysis to quantify model performances under relaxed assumptions.
Fichier principal
Vignette du fichier
978-3-642-33980-6_6_Chapter.pdf (566 Ko) Télécharger le fichier
Origin : Files produced by the author(s)
Loading...

Dates and versions

hal-01524217 , version 1 (17-05-2017)

Licence

Attribution

Identifiers

Cite

Giovanni Davoli, Riccardo Melloni. A Proposed Approach to Extend the Economic Order Quantity (EOQ) Model Using Discrete Event Simulation. International Conference on Advances in Production Management Systems (APMS), Sep 2011, Stavanger, Norway. pp.45-53, ⟨10.1007/978-3-642-33980-6_6⟩. ⟨hal-01524217⟩
286 View
402 Download

Altmetric

Share

Gmail Facebook X LinkedIn More