Browsing by Author "Alema-Mensah, Ernest"

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    Managing Inventory Systems Using Optimization
    (2011-10-05) Alema-Mensah, Ernest
    In managing inventory systems, proper simulation of the inventory or stock levels is very likely to reduce holding cost, losses and improve general customer satisfaction or profit. This thesis aims to investigate simulation optimization of an Inventory Management System. It also discusses Optimal Inventory Policy (cost saving in inventory management and maximizing profit). A mathematical model is used for this purpose. Also a case study adjusts mathematical model to practicality of Toyota Ghana Company Limited business situation.