Article Per Year (5 Year)
p-Index From 2020 - 2025
0.23
P-Index
This Author published in this journals
All Journal Journal of Research in Mathematics Trends and Technology
Helmi Ramadan
Department of Mathematics, Universitas Sumatera Utara, Medan, 20155, Indonesia
Decision Sciences, Operations Research & Management Mathematics

Published : 1 Documents Claim Missing Document
Claim Missing Document
Check
Articles

Found 1 Documents
Search

 1 
Monte Carlo Simulation Approach to Determine the Optimal Solution of Probabilistic Supply Cost Helmi Ramadan; Prana Ugiana Gio; Elly Rosmaini
Journal of Research in Mathematics Trends and Technology Vol. 2 No. 1 (2020): Journal of Research in Mathematics Trends and Technology (JoRMTT)
Publisher : Talenta Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.32734/jormtt.v2i1.3752

Abstract

Monte Carlo simulation is a probabilistic simulation where the solution of problem is given based on random process. The random process involves a probabilitydistribution from data variable collected based on historical data. The used model is probabilistic Economic Order Quantity Model (EOQ). This model then assumed use Monte Carlo simulation, so that obtained the total of optimal supply cost in the future. Based on data processing, the result of probabilistic EOQ is $486128,19. After simulation using Monte Carlo simulation where the demand data follows normal distribution and it is obtained the total of supply cost is $46116,05 in 23 months later. Whereas the demand data uses Weibull distribution is obtained the total of supply stock is $482301,76. So that, Monte Carlo simulation can calculate the total of optimal supply in the future based on historical demand data.
Co-Authors Elly Rosmaini Prana Ugi