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Comparison of inventory policies in a supply chain: a simulation study |
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| รหัสดีโอไอ | |
| Title | Comparison of inventory policies in a supply chain: a simulation study |
| Creator | Supasuta Yoosuk |
| Contributor | Aussadavut Dumrongsiri, Advisor |
| Publisher | Thammasat University |
| Publication Year | 2568 |
| Keyword | Simulation study, Inventory policies, Optimization, Comparison |
| Abstract | This study compares the performance of two inventory control policies the (s, S) policy and the (T, S) policy in a multi-echelon supply chain consisting of retailers, a central warehouse, and a supplier. The evaluation is conducted through simulation using demand data from Year 1 to determine policy parameters, which are then applied to simulate Year 2 operations. The analysis focuses on total cost, service level (measured by fill rate), coefficient of variation, and the Bullwhip Effect. The results show that the (T, S) policy with T set to 2 periods and the order-up-to level determined by a formula-based approach (Method 1) achieves the most consistent performance. This configuration yields low total cost and high service level stability. The findings suggest that this policy is the most appropriate option for managing inventory under the specified simulation conditions. |
