Economic disposal quantity of leftovers kept in storage: a Monte Carlo simulation method
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Data
2019
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Resumo
This article describes how to reach an item’s threshold, or in other words, the limit time for it to be re 5 trieved from stock and sold for a different use, as well as the remaining foreseen period for this situation to occur. Once a minimum length, or weight, is reached, left quan tities are more difficult to sell, as demand often exceeds the remaining parts or leftovers. The number of unfulfilled 10 orders increases, as time goes by, until it becomes further cost effective to dispose the leftover and sell it for a lower price and alternative use. A Monte Carlo simulation model was built in order to consider the randomness of future transactions and quantifying consequences providing this 15 way a simple and effective decision-making.
KEYWORDS: Decision-making ; Economical Optimization ; Monte-Carlo Simulation ; Stochastic Process
Descrição
Open Engineering, 2019
Palavras-chave
GESTÃO, GESTÃO DE STOCKS, TOMADA DE DECISÃO, OTIMIZAÇÃO, PROCESSOS ESTOCÁSTICOS, MANAGEMENT, STOCK MANAGEMENT, DECISION MAKING, OPTIMIZATION, STOCHASTIC PROCESSES
Citação
Assis, R.; Carmona Marques, P.; Oliveira Santos, J.; Vidal, R. (2019) . Economic disposal quantity of leftovers kept in storage: a Monte Carlo simulation method. Open Engineering, 2019,9. p. 1-9. DOI: https://doi.org/10.1515/eng-2019-0062