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Daniel E. Rivera Department of Chemical and Materials Engineering Arizona State University

ECE 100: Introduction to Engineering Design Modeling Assignment No. 3 Inventory Management Using PID Control (Continued); Stochastic Modeling. Daniel E. Rivera Department of Chemical and Materials Engineering Arizona State University. Some Course Business Items….

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Daniel E. Rivera Department of Chemical and Materials Engineering Arizona State University

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  1. ECE 100: Introduction to Engineering Design Modeling Assignment No. 3Inventory Management Using PID Control(Continued); Stochastic Modeling Daniel E. RiveraDepartment of Chemical and Materials EngineeringArizona State University ECE 100: Intro to Engineering Design, Presentation No. 14

  2. Some Course Business Items… • Modeling Assignment No. 2 currently being graded and will be returned on Thursday • Please calculate Inventory Holding costs on the basis of on-hand (and not net) stock. Otherwise you may get negative total costs… • Use office hours, other means of communication if you are having problem understanding the assignments. ECE 100: Intro to Engineering Design, Presentation No. 14

  3. Modeling Assignment No. 3 • Add an engineering-based Proportional-Integral-Derivative (PID) decision policy to your previous Excel-based simulation that compares the four EOQ strategies. • Use your simulation to determine which choice of controlled variable (net stock or inventory position) is “best” suited for this application. • Evaluate each choice of controlled variable for a 60-day time period; generate both deterministic and stochastic simulations. • Details provided in the Modeling Assignment No. 3 sheet. ECE 100: Intro to Engineering Design, Presentation No. 14

  4. Coming Up • Thursday, March 13: Modeling Assignment No. 3 due. Project 1 description will be distributed. We will return to ECG 347 for this class session. ECE 100: Intro to Engineering Design, Presentation No. 14

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