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Article Information:
Stochastic Discrete-Time Model and Simulation of Inventory Management System
Qiao Xiong
Corresponding Author: Qiao Xiong
Submitted: January 24, 2013
Accepted: February 25, 2013
Published: November 20, 2013 |
Abstract:
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Inventory management plays a very important role in logistics system. This study presents a discrete-time model for regularly order inventory management system considering the randomicity of receiving goods of time and the volume of ordering determined by inventory difference. With the application of Simulink toolbox in MATLAB, an example of block diagram model in z-domain is built to simulate the dynamic change process of the inventory system, so that it can effectively assist and support decision-making.
Key words: Discrete-time system model, inventory management, logistics, MATLAB, simulation, ,
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Cite this Reference:
Qiao Xiong, . Stochastic Discrete-Time Model and Simulation of Inventory Management System. Research Journal of Applied Sciences, Engineering and Technology, (21): 3974-3977.
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ISSN (Online): 2040-7467
ISSN (Print): 2040-7459 |
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