Interactive Inventory Management Simulation for Teaching and Learning: Developing a MATLAB Simulink Gui for Enhanced Educational Outcomes
Keywords:
Industrial Management, Inventory Simulator, Teaching and Learning ToolAbstract
This paper presents the development of Inventory Simulator (InventSim), an application to simulate inventory levels based on the economic order quantity (EOQ) model. InventSim could be used to visualize the effect of the main variables in the EOQ model and could also compare two different scenarios simultaneously to ensure that the central concept in inventory control could be understood by the students with less effort. The development of the simulator begins with the determination of the user requirements. The saw-tooth graph is employed to simulate the inventory level using an equation created based on generalized time-series data of the main points of the saw-tooth. MATLAB is the main platform used to compile the algorithm and the user interface. The application could be used on any personal computer with the assistance of MATLAB Runtime and could be installed without an official license hence easier usage and freedom. The application was introduced to current semester Industrial Management classes on a trial basis only and feedback on performance and satisfaction was obtained through a questionnaire. The increase in rating after the trial usage is the initial positive indicator on the promising capability of InventSim in improving students' understanding of EOQ theoretical knowledge.Downloads
