Inventory Management

Abstract

The fundamental objective of the present study is to determine the reorder point and order size that minimizes the total cost stemming from retailers’ and distribution centers’ sides in a simulation-based–multi-echelon inventory system. The data, such as demand arrivals, initial inventories, and delivery and lead times, are used as input, and the total cost and system performance are measured as output in the simulation model. In this way, we aim to find the most appropriate level of input variables to determine the minimum cost of the overall inventory system. © 2023 selection and editorial matter, Turan Paksoy and Muhammet Deveci; individual chapters, the contributors.