Computational Simulation Techniques in Inventory Management
Abhijit Pandit, Pulak Konar · 2022
In this paper we will see inventory systems and will learn to manage it with simulation technique. We will study simulation which is performed manually for better understanding of the topic. Then we will discuss some merits and demerits of it and study Monte Carlo simulation technique and how this method is used to solve a real life problem. We will use Excel software to generate random numbers and we will perform simulation in it. We will find the inventory sales for a confectionary bakery shop and will simulate and predict the sales for next few days. At the end we will compare and plot a graph so as to see and understand simulation better.