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Abstract

A common inventory segmentation strategy for consumable service parts used in heavy industry
was compared to a more sophisticated strategy by evaluating performance using a discrete-event simulation of warehouse operations and a companion Monte Carlo simulation of supply chain metrics. Unlike the simple strategy, the sophisticated strategy achieved performance goals, lowered inventory investment 20%, and enabled buys for parts in low annual consumption categories to be automated.

Author: Randloph Bradley
Advisors: Dr. Jarrod Goentzel