Stochastic lead time demand estimation via Monte Carlo simulation technique in supply chain planning

This paper considers a Monte Carlo simulation based method for estimating cycle stocks (production lot-sizing stocks) in a typical batch production system, where a variety of products is scheduled for production at determined periods of time. Delivery time is defined as the maximum lead time and pre...

Full description

Bibliographic Details
Main Authors: Mohamad Mahdavi, Mojtaba Mahdavi
Format: Article
Language:English
Published: Universiti Kebangsaan Malaysia 2014
Online Access:http://journalarticle.ukm.my/7059/1/18_Mohamad_Mahdavi.pdf
_version_ 1825725938657132544
author Mohamad Mahdavi,
Mojtaba Mahdavi,
author_facet Mohamad Mahdavi,
Mojtaba Mahdavi,
author_sort Mohamad Mahdavi,
collection UKM
description This paper considers a Monte Carlo simulation based method for estimating cycle stocks (production lot-sizing stocks) in a typical batch production system, where a variety of products is scheduled for production at determined periods of time. Delivery time is defined as the maximum lead time and pre-assembly processing time of the product’s raw materials in the method. The product’s final assembly cycle and delivery time, which were obtained via the production schedule and supply chain simulation, respectively, were both considered to estimate the demand distribution of product based on total duration. Efficient random variates generators were applied to model the lead time of the supply chain’s stages. In order to support the performance reliability of the proposed method, a real case study is conducted and numerically analyzed.
first_indexed 2024-03-06T04:03:16Z
format Article
id ukm.eprints-7059
institution Universiti Kebangsaan Malaysia
language English
last_indexed 2024-03-06T04:03:16Z
publishDate 2014
publisher Universiti Kebangsaan Malaysia
record_format dspace
spelling ukm.eprints-70592016-12-14T06:42:59Z http://journalarticle.ukm.my/7059/ Stochastic lead time demand estimation via Monte Carlo simulation technique in supply chain planning Mohamad Mahdavi, Mojtaba Mahdavi, This paper considers a Monte Carlo simulation based method for estimating cycle stocks (production lot-sizing stocks) in a typical batch production system, where a variety of products is scheduled for production at determined periods of time. Delivery time is defined as the maximum lead time and pre-assembly processing time of the product’s raw materials in the method. The product’s final assembly cycle and delivery time, which were obtained via the production schedule and supply chain simulation, respectively, were both considered to estimate the demand distribution of product based on total duration. Efficient random variates generators were applied to model the lead time of the supply chain’s stages. In order to support the performance reliability of the proposed method, a real case study is conducted and numerically analyzed. Universiti Kebangsaan Malaysia 2014-04 Article PeerReviewed application/pdf en http://journalarticle.ukm.my/7059/1/18_Mohamad_Mahdavi.pdf Mohamad Mahdavi, and Mojtaba Mahdavi, (2014) Stochastic lead time demand estimation via Monte Carlo simulation technique in supply chain planning. Sains Malaysiana, 43 (4). pp. 629-636. ISSN 0126-6039 http://www.ukm.my/jsm/
spellingShingle Mohamad Mahdavi,
Mojtaba Mahdavi,
Stochastic lead time demand estimation via Monte Carlo simulation technique in supply chain planning
title Stochastic lead time demand estimation via Monte Carlo simulation technique in supply chain planning
title_full Stochastic lead time demand estimation via Monte Carlo simulation technique in supply chain planning
title_fullStr Stochastic lead time demand estimation via Monte Carlo simulation technique in supply chain planning
title_full_unstemmed Stochastic lead time demand estimation via Monte Carlo simulation technique in supply chain planning
title_short Stochastic lead time demand estimation via Monte Carlo simulation technique in supply chain planning
title_sort stochastic lead time demand estimation via monte carlo simulation technique in supply chain planning
url http://journalarticle.ukm.my/7059/1/18_Mohamad_Mahdavi.pdf
work_keys_str_mv AT mohamadmahdavi stochasticleadtimedemandestimationviamontecarlosimulationtechniqueinsupplychainplanning
AT mojtabamahdavi stochasticleadtimedemandestimationviamontecarlosimulationtechniqueinsupplychainplanning