Decision support system for AS/RS investments: real benefits out of Monte Carlo simulation
by Lauri Lättilä; Juha Saranen; Olli-Pekka Hilmola
International Journal of Technology Intelligence and Planning (IJTIP), Vol. 9, No. 2, 2013

Abstract: Warehousing plays an important role in the efficiency of today's international supply chains. Optimal configuration of warehouse activities depends on several design criteria. Basic alterative system designs are based either on manual labour or automated systems. While manual systems typically require smaller investments, automated systems in turn enable increased efficiency in space utilisation, advanced flexibility, as well as reduction in spoilage and administration cost. In this research, we combine static spreadsheet modelling with Monte Carlo simulation to estimate the payback time of two suggested automatic storage and retrieval system (AS/RS) investments as well as for identifying the main factors affecting their economic feasibility. By offering a rapid tool for evaluating the potential of an AS/RS, detailed time consuming analyses need to be performed only for the most potential configurations.

Online publication date: Sun, 08-Dec-2013

The full text of this article is only available to individual subscribers or to users at subscribing institutions.

Existing subscribers:
Go to Inderscience Online Journals to access the Full Text of this article.

Pay per view:
If you are not a subscriber and you just want to read the full contents of this article, buy online access here.

Complimentary Subscribers, Editors or Members of the Editorial Board of the International Journal of Technology Intelligence and Planning (IJTIP):
Login with your Inderscience username and password:

    Username:        Password:         

Forgotten your password?

Want to subscribe?
A subscription gives you complete access to all articles in the current issue, as well as to all articles in the previous three years (where applicable). See our Orders page to subscribe.

If you still need assistance, please email