Witness Simulation-based Stochastic Inventory Decision-making

The significance of inventory control and the investigate developments of inventory decision-making were reviewed; the inventory, inventory control and familiar inventory model were also introduced. The basic conception, simulation method and common process of discrete event system simulation were presented by the number. The paper also summarized the model building process of inventory system simulation technique and its simulation characteristic. The professional system simulation software —Witness was emphasis introduced and the theory of inventory decision-making based on Witness was put forward. Based on the performance of inventory system and simulation object, the model building simulation process of Tianjin TDL Pipes Industry Limited Company was actualized using Witness software, and the final decision scheme was bring forward. This paper wanted to describe and solve the inventory problem during the process of modern logistic by using quantificational optimized means, and provide basic theory and measurement for increasing logistic efficiency, decreasing logistic cost, adding logistic benefit.