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     Research Journal of Applied Sciences, Engineering and Technology


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
http://dx.doi.org/10.19026/rjaset.6.3498  |  © The Author(s) 2013
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,


References


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.

ISSN (Online):  2040-7467
ISSN (Print):   2040-7459
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