A. Mahamani
Dr. K. Prahlada Rao
Dr. V. Pandurangadu
Abstract
In this paper a (R, Q, k, t) single item inventory replenishment policy is proposed and evaluated by means of excel spread sheet simulation in arehouse. The alternative replenishment policies are compared by changing the inventory to retailer demand ratio and inventory to demand forecast ratio values. The performance of the selected ordering policy is evaluated by using sensitivity analysis and stock out screening. This work will support to reduce the inventory level without the risk of stock out.
Keywords- Supply chain, warehouse management, replenishment policy, excel spread sheet simulation, inventory reduction