When auditing a company, auditors use a combination of professional judgment and statistical sampling methods to estimate account balances. Statistical sampling is an efficient way to design samples, ...

Inventory systems can make or break your business, and effective controls help provide visibility as to what you have, what you need, what you don’t need and costs. But bad procedures can lead to ...

We propose a sample-average-approximation-based simulation optimisation approach for solving a two-echelon inventory problem containing a total cost objective function and multiple service-level ...