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INVENTORY OPTIMIZATION MODEL, BASED ON MONTE CARLO SIMULATION AND GENETIC METAHEURISTIC ALGORITHM

Abstract:

The objective of this investigation is to minimize the sales costs of a distributor, due to the fact that, by not keeping a correct inventory control, at the end of each monthly period there are too many products in stock stored in the warehouse that become large losses of money. To carry out this study, there is a history of real data that goes from the entire year 2017 to June 2019, subsequently from the month of July to December 2019, the daily purchases and sales of the products were simulated using a Model of Monte Carlo simulation, thus completing the necessary sample to generate the estimated results in the year 2020 using the model based on the Genetic Metaheuristic Algorithm. The results obtained through the Metaheuristic Algorithm, Monte Carlo Simulation Model, and Objective Function of cost minimization that represent approximately 10% compared to the costs of previous periods.