We model the behavior of the demand distribution and lead-time distribution separately and determine the value of demand during lead time by discrete-event simulation. A new methodology determines the optimal inbound-resupply strategy when suppliers ship goods to receivers. An evolutionary metaheuristic uses discrete-event simulation to calculate safety stock levels and minimize total logistics costs.
Published in:
Intelligent Systems, IEEE
(Volume:20
,
Issue:
4
)
Date of Publication: July-Aug. 2005