TITLE

VBA DRIVEN SPREADSHEET INTERACTIVE MODULE FOR INVENTORY CONTROL EDUCATION

AUTHOR(S)
KOSTIC, Konstantin; MARINKOVIC, Sanja; RAKICEVIC, Zoran
PUB. DATE
May 2013
SOURCE
Metalurgia International;May2013, Vol. 18 Issue 5, p260
SOURCE TYPE
Academic Journal
DOC. TYPE
Article
ABSTRACT
The paper describes the practicability of the interactive module STOCKDYNAMICS to acquire a fundamental insight in stock dynamics for various inflows and outflows: (I) discrete inflow - continuous/discrete outflow, (2) continuous inflow - continuous/discrete outflow and (3) continuous/discrete inflow - dynamic variable outflow. Problems of inventory control, such as fixed ordered quantity, periodic review and tot-for-lot, are modelled as a problem of optimal control of discrete systems and are developed in VBA for Excel. The module is utilized on the operations management course in order both to simulate a stock dynamics and to generate an optimal replenishment strategy. STOCKDYNAMICS module accords with new requirements for electronically supported learning and teaching in engineering education.
ACCESSION #
86444130

 

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