Computer Modelling and Simulation for Inventory Control

Abstract

This study concerns the role of computer simulation as a device for conducting scientific experiments on inventory control. The stores function utilizes a bulk of physical assets and engages a bulk of financial resources in a manufacturing outfit therefore there is a need for an efficient inventory control. The reason being that inventory control reduces cost of production and thereby facilitates the effective and efficient accomplishment of production objectives of an organization. Some mathematical and statistical models were used to compute the Economic Order Quantity (EOQ). Test data were gotten from a manufacturing company and same were simulated. The results generated were used to predict a real life situation and have been presented and discussed. The language of implementation for the three models is Turbo Pascal due to its capability, generality and flexibility as a scientific programming language.