Stockage Policy Simulation and Virtual Inventory Optimization
Tuesday, March 31st, 2009Excerpt: (Read the full post »)
Retail stockage policy, for merchandising or military applications, all have in common three decision rules which can be simulated (with or without constraints such as budget, quantity discounts, or warehouse space) using empirical or stochastic demand distributions to determine optimum customer satisfaction levels. Walt discusses the role of simulation and modeling and Foresight’s approach to solving the problems.
