Analysis for Quick Response Strategy Using OptQuest Simulation

Shan Liang Li; Chun Hua Wang

doi:10.4028/www.scientific.net/AMM.220-223.263

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HomeApplied Mechanics and MaterialsApplied Mechanics and Materials Vols. 220-223Analysis for Quick Response Strategy Using...

Analysis for Quick Response Strategy Using OptQuest Simulation

Abstract:

Simulation is a very powerful tool that helps evaluate the impact of business decisions on performance in an uncertain environment. OptQuest is an optimization tool of crystal ball, which can define random variables easily and display the result graphically. In this paper, the impact of quick response strategy on the performance is modeled and analyzed. To illustrate the issues, consider an example and compare the impact of different ordering policies using OptQuest simulation. Studies have shown that quick response had a positive impact on the performance. It can be seen from the process of modeling and optimization, OptQuest is an inexpensive way to test different actions and identify the most effective decision given an uncertain future.

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Periodical:

Applied Mechanics and Materials (Volumes 220-223)

Pages:

263-267

DOI:

https://doi.org/10.4028/www.scientific.net/AMM.220-223.263

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Online since:

November 2012

Authors:

Shan Liang Li, Chun Hua Wang

Keywords:

OptQuest, Ordering Policy, Quick Response, Simulation

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