Simulation of Finished Goods Inventory - Next Step Towards Factory Simulation

University essay from Lunds universitet/Förpackningslogistik

Abstract: Purpose: This Master Thesis has the purpose of creating a simulation model of a finished goods inventory at one of the Company’s factories. In addition, an improved layout should be proposed. Design/Approach: A simulation study using discrete-event simulation has been performed in the recommended steps by various literatures. A thorough study was made to identify the stakeholders and the relevant requirements set on the finished goods inventory. Originality/Value: The Company has adapted a long term strategy regarding the usage of virtual engineering to stay competitive and remain as market leaders. The model of the finished goods inventory will be an important part of a detailed factory simulation. The model should also be used to evaluate different layouts in the finished goods inventory to find improvements. The improvements will hopefully reduce the life-cycle cost of the packaging material which is produced in the factory. Limitations: The Master Thesis is only focusing on the Finished Goods Inventory in Arganda, Spain. Only the finished goods of packaging material are taken into consideration. Findings: A simulation model has been created which is fully compatible with a factory simulation model. In addition an improved layout of the FGI has been presented. If the layout is implemented, the annual life-cycle cost of the packaging material will be reduced with 43000€.

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