chapter  10
30 Pages

Modeling Inventory Dynamics : The Case of Frenudco

Although the discipline of industrial dynamics, commonly known as system dynamics, was developed some 60 years ago, it is still viewed in the East as a new technology for policy design in management and planning (Richardson and Pugh, 1981). Broadly speaking, the systems thinking, feedback notion, and control engineering are applied to economics, business, and organizational systems (Towill, 1996) to gain a better insight into the problems under study. The objective of the chapter is to simulate the dynamics of the inventory management, narrate the basic concepts of system dynamics, and design egalitarian policies.