Question: From book: Simulation Modeling and Analysis, FIFTH EDITION Consider the inventory simulation of Sec. 1.5. (a) For this model with these parameters, there can never

From book: Simulation Modeling and Analysis, FIFTH EDITION

Consider the inventory simulation of Sec. 1.5.

(a) For this model with these parameters, there can never be more than one order outstanding (i.e., previously ordered but not yet delivered) at a time. Why?

(b) Describe specifi cally what changes would have to be made if the delivery lag were uniformly distributed between 0.5 and 6.0 months (rather than between 0.5 and 1.0 month); no other changes to the model are being considered. Should ordering decisions be based only on the inventory level I(t)?

Modify the inventory simulation of Sec. 1.5 so that it makes fi ve replications of each (s, S) policy; see Prob. 1.9. Discuss the results. Which inventory policy is best? Are you sure?

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