sim_minmax_normal {inventorize}

sim_minmax_normal

Description

Simulating a Min,max policy or aslo called s,S policy, .

Usage

sim_minmax_normal(
  demand,
  mean,
  sd,
  leadtime,
  service_level,
  Max,
  shortage_cost = FALSE,
  inventory_cost = FALSE,
  ordering_cost = FALSE
)

Arguments

demand

A vector of demand in N time periods.

mean

average demand in N time periods.

sd

standard deviation in N time periods.

leadtime

lead time from order to arrival

service_level

cycle service level requested

Max

Max quantity for order up to level

shortage_cost

shortage cost per unit of sales lost

inventory_cost

inventory cost per unit.

ordering_cost

ordering cost for every time an order is made.

Details

The Function takes a demand vector, mean of demand ,sd,lead time and requested service level to simulate and inventory system, orders are lost if inventory level is less than requested demand, also ordering is made at day t+1, metrics like item fill rate and cycle service level are calculated. the min is calculated based on a normal distribution.

Value

a list of two date frames, the simulation and the metrics.

Author(s)

"haytham omar email: <[e-mail]>"

Examples

sim_minmax_normal(demand=rpois(80,6),mean=6,sd=0.2,leadtime=5,service_level=0.95,Max=25,
shortage_cost= FALSE,inventory_cost=FALSE,ordering_cost=FALSE)