Abstract:
Dynamic Fluid Control has identified the need of a Dynamic Safety Stock mechanism and optimal Economic Order Quantities. The current Static Safety Stock Policy used by the organization results in costs that can be avoided and customer dissatisfaction because of fluctuations in demand during the year. The objective of this project is to supply Dynamic Fluid Control with dynamic safety stock level recommendations as well as optimal order quantities through a Dynamic Safety Stock model. The objective will be satisfied after a comprehensive investigation and analysis of the current Static Safety Stock policy, in order to propose a Dynamic Safety Stock model to Dynamic Fluid Control.
