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Operations Management: Sustainability and Supply Chain Management, Twelfth Edition
book

Operations Management: Sustainability and Supply Chain Management, Twelfth Edition

by Jay Heizer, Barry Render, Chuck Munson
February 2016
Intermediate to advanced content levelIntermediate to advanced
480 pages
219h 58m
English
Pearson
Content preview from Operations Management: Sustainability and Supply Chain Management, Twelfth Edition

Simulation with Two Decision Variables: An Inventory Example

Often, there is more than one variable to be simulated. In Example F1 it was demand for tires. But many OM decisions have multiple variables. In a queuing situation, it may be arrival times and service times. In an inventory problem, as we saw in Chapter 12, both demand and lead time might be variable (not constant).

Student Tip

Most real-world inventory systems have probabilistic events and benefit from a simulation approach.

In this section, we present an inventory problem with two decision variables and two probabilistic components. The owner of the hardware store in Example F2

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Publisher Resources

ISBN: 9780134422404