Supported by Toowoomba Foundry
Determine re-order points and order quantities for many types of make-to-stock components required for make-to-order final assemblies.
Simulation model embedded into a meta-heuristic Meta-heuristic searches for best solutions evaluated by simulation Simulation randomly generates demand based on real data Scheduling model evaluates system.
Traditional techniques not applicable. Developed approach determines a good trade off between holding costs, customer service.