Quasi Monte Carlo for Periodic Review in Inventory Systems

Periodic Review as a method is widely used especially in inventory system. In this paper Quasi Monte Carlo is used for simulating Periodic Review. The problem: How to implement Quasi Monte Carlo simulation in Periodic Review for inventory system of MSMEs in order to achieve the expected minimum inve...

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Bibliographic Details
Published inE3S web of conferences Vol. 448; p. 2033
Main Authors Sugiharti, Endang, Mustafid, Isnanto, R. Rizal, Warsito, Budi, Wibowo, Adi
Format Journal Article
LanguageEnglish
Published EDP Sciences 01.01.2023
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Summary:Periodic Review as a method is widely used especially in inventory system. In this paper Quasi Monte Carlo is used for simulating Periodic Review. The problem: How to implement Quasi Monte Carlo simulation in Periodic Review for inventory system of MSMEs in order to achieve the expected minimum inventory cost? The solution offered: Implementation of Periodic Review with Quasi Monte Carlo in inventory system in MSMEs in order to achieve the expected minimum inventory cost. The method used in this article is a Literature Study on the use of Periodic Review optimization with Quasi Monte Carlo which is implemented in the inventory system. Result: Through the use of Quasi Monte Carlo in Periodic Review in Inventory System, the minimum inventory cost expected by MSMEs is achieved.
ISSN:2267-1242
2267-1242
DOI:10.1051/e3sconf/202344802033