Research Article | OPEN ACCESS
Stochastic Discrete-Time Model and Simulation of Inventory Management System
Qiao Xiong
School of Transportation and Logistics, Southwest Jiaotong University, Chengdu 610031, China
Research Journal of Applied Sciences, Engineering and Technology 2013 21:3974-3977
Received: January 24, 2013 | Accepted: February 25, 2013 | Published: November 20, 2013
Abstract
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.
Keywords:
Discrete-time system model, inventory management, logistics, MATLAB, simulation,
Competing interests
The authors have no competing interests.
Open Access Policy
This article is distributed under the terms of the Creative Commons Attribution 4.0 International License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution, and reproduction in any medium, provided you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license, and indicate if changes were made.
Copyright
The authors have no competing interests.
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ISSN (Online): 2040-7467
ISSN (Print): 2040-7459 |
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