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Optimizing stochastic supply chains via simulation: what is an appropriate simulation run length

Author
Arreola, A.; Fortuny-Santos, J.; Vintro, C.
Type of activity
Presentation of work at congresses
Name of edition
7th International Conference on Industrial Engineering and Industrial Management
Date of publication
2013
Presentation's date
2013-07-10
Book of congress proceedings
“Industrial Engineering and Complexity Management”. Book of Proceedings of the 7th International Conference on Industrial Engineering and Industrial Management - XVII Congreso de Ingeniería de Organización.
First page
297
Last page
305
Repository
http://hdl.handle.net/2117/20188 Open in new window
URL
http://www.insisoc.org/CIO2013/papers/EN-02%20OR%20M&S/Optimizing%20Stochastic%20Supply%20Chains%20via%20Simulation%20What%20is%20an%20Appropriate%20Simulation%20Run%20Length.pdf Open in new window
Abstract
The most common solution strategy for stochastic supply-chain man-agement problems that are analytically intractable is simulation. But, how can we be sure that the optimal solution obtained by simulation is in fact the true optimal solution? In this paper we try to shed light on this question. We report the results of an extensive simulation study of a base-stock controlled production-inventory system. We tried different values of base-stock levels (R) to determine, via simulation, which was th...
Citation
Arreola, A.; Fortuny, J.; Vintro, C. Optimizing Stochastic Supply Chains via Simulation: What is an Appropriate Simulation Run Length. A: Industrial Engineering and Complexity Management. "7th International Conference on Industrial Engineering and Industrial Management. XVII Congreso de Ingeniería de Organización (CIO)". Valladolid: 2013, p. 297-305.
Keywords
Optimization, Simulation, Stochastic Supply Chains
Group of research
OPE-PROTHIUS -

Participants

  • Arreola Risa, Antonio  (author and speaker )
  • Fortuny Santos, Jordi  (author and speaker )
  • Vintro Sanchez, Carla  (author and speaker )