Fossil fuel supplies simulation 1972–1979 |
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Authors: | DKA Gillies AL Punhani WH Winter DJ Youston |
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Institution: | Ontario Hydro, Canada |
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Abstract: | Fossil fuels are an important source of energy for Ontario Hydro and purchases exceed $100 million per year. This paper describes a computer simulation of the inventory situation over an eight-year period, which is being used to assess the relationship between order flexibility and the target carry-over stocks at the beginning of each shipping season. A simple way of presenting the results for management evaluation is illustrated. Variations of the model are used to assess random influences, such as strikes, and to determine the economic balance between holding costs and stock-outs. |
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