Simulation experiment is not an analytical method of optimizing your supply chain (as compared to GFA and Network Optimization experiments), time is relevant in this case. The experiment is used to properly configure inventory policies, find optimal product stock volume, eliminate the possibility of lost orders and execute what-if scenarios to see how the changes you make affect the outcome.
Simulation experiment allows you to:
- Find the exact quantity of products available in stock
- Observe the actual products delivery on the GIS map
- Gather data for detailed statistics generated in real-time
- Sourcing of products
- Inventory policies
- Expenses incurred
We will further add the required data and run the what-if scenarios within the Simulation experiment to evaluate the best inventory capacity and find the best solution in terms of total expenses incurred to eliminate the possible redundant investing.
Let us start this tutorial. Click the link below to get to the first phase.
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