Inventory Management: Using Discrete Event Simulation
Inventory Management--Using Discrete Event Simulation Submitted by: Kimsy Gulhane
B.Tech (IT), MBA
Assistant professor, DMT,
RCOEM, Nagpur.
E-mail:kimsy27@gmail.com
Phone no.:9823507703
I. ABSTRACT
Inventory management deals with maintaining the stock such that there are not shortages, that is, demand is fulfilled. This means that there should be enough stock and this requires more inventory cost. So there has to be a balance between fulfilling demand and inventory cost. For this, it is important to decide reorder level and order size/quantity efficiently.
In hospitals, especially the government hospitals, there is the need of regular drug supply. Every hospital decides the reorder level and order size as per their demand for drugs. Sometimes these values may not be very accurate which will result in shortage of drugs. To overcome this,
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Then λ=1/x.
b) Process
Here we generate random numbers from a particular distribution. From input modeling, if data fits into exponential distribution then here we will generate new data from exponential distribution.
This can be done by inverse transform technique.
Steps of inverse transform technique:
i) We take cumulative function , F(x) ii) F(x)=R iii) X= -------
c) Output analysis
The data generated is used for simulation. Various replications are taken and then used to decide or analyze the hospital system.
These steps are applied to data collected from Regional Mental Hospital, Nagpur.
About the real system:
Regional Mental hospital is situated in Nagpur. There are various drugs which are required on daily basis. Out of them, antibiotics are considered for simulation. Simulation steps are applied to the real system. Here, daily demand and lead time is collected from the hospital.
III. SIMULATION
Demand: This is the first variable for simulation.
50 values of daily demand for antibiotics are collected as:
18
40
65
80
25
80
60
90
80
55
45
40
46
20
81
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