Accession Number:

AD0837027

Title:

COSTS OF OPERATING AN INVENTORY SYSTEM WITH INACCURATE RECORDS.

Personal Author(s):

Corporate Author:

NAVAL POSTGRADUATE SCHOOL MONTEREY CA

Report Date:

1968-06-01

Abstract:

Changes in costs and in several effectiveness measures due to the introduction of errors into inventory records are investigated using Monte Carlo computer simulation of a multiple item, single warehouse, single inventory manager inventory system operating under a procurement budget constraint. Demands are generated using a stuttering Poisson stochastic process and transactions are processed on a daily basis. Parameters for the stochastic processes are obtained from line item input data by the method of moments. Stock is reordered using U. S. Navy UICP decision rules stochastic lead times are generated for each order. Discrepancies of various types are introduced at rates reflecting estimates obtained from a large naval supply center. Changes in costs due to discrepant records are found to be significantly large. Comments are offered on the selection of a measure of effectiveness and its relationship to the decision making process. Suggestions are made for subsequent research. Author

Descriptive Note:

Master's thesis,

Pages:

0049

Descriptors:

Subject Categories:

Communities Of Interest:

File Size:

0.00MB

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