A dynamic Monte Carlo simulation of a repairable inventory system

Abstract

The simulation presented here attempts to provide a testing device to be used in evaluating repairable inventory decision rules. The complexity of the repairable inventory problem prevents mathematical analysis, and trial-and-error solutions are too costly and time-consuming: hence the systems simulation approach. The system is a general one and depicts the author's opinion of what the average system design might be. Theoretical evaluations are possible, and several die presented.