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922. Development of simulation models in Excel for conducting inventory analyses in continuous time
Invited abstract in session MB-16: OR Education II, stream OR Education.
Monday, 10:30-12:00Room: 19 (building: 116)
Authors (first author is the speaker)
| 1. | Christian Larsen
|
| Economics, CORAL, Aarhus School of Business, Aarhus University |
Abstract
When teaching a course in Inventory Management at the graduate level it is inevitable that the lecturer needs to use simulations for pinpointing some of the more complex matters that, cannot adequately be covered by any analytical formulas. The issue can then be whether the simulation program used in the course, should be a specialized discrete event simulation program like Arena, or it could be done in Excel, or maybe using both tools in the course. When teaching business students who are not that well acquainted with a program like Arena it can be of advantage to use Excel, entirely. However, Excel is at first glance mostly geared for working in discrete time, as it does not have any sort of event calendar file. The presentation will demonstrate how it is possible, by using some simple modeling effort, to conduct inventory analyses in Excel in continuous time.
Keywords
- OR in Education
Status: accepted
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