Title

Inventory Optimization of Small Business Supply Chains with Stochastic Demand

Document Type

Book Chapter

Publication/Presentation Date

2009

Academic Year

2009-2010

Publisher

CRC Press - Taylor Francis

Abstract/Description

Description: "The research examines the supply chain and business processes of a small seasonal business. Historical purchasing and demand patterns were analyzed, and appropriate statistical distributions were fitted to the demand patterns. This analysis was used in the development and application of inventory optimization for raw materials and finished goods inventories. The resulting inventory policies and demand distributions were integrated into a business process simulation using Extend LT. Through the simulation, additional supply chain opportunities were identified for future research."

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