The computer software for managing an inventory of perishable product such as processed livestock feed or finished feed is developed as decision support system (DSS). This DSS may be utilized as a stochastic model tool for production policy or as an entire production management portfolio for waste minimization. It is based on efficient and effective stock/store management under a set of random outcomes in discrete probability distribution pattern of finished feed demand, the experience of the policy/portfolio/firm is to be projected, and the outcome as optimum storage quantity is to be determined. Further, this process has to be repeated several times by using computer software (DSS) developed in C++. Stochastic modeling manages volatility and variability (randomness) into the simulation. The feed production manager may also vary about taking decisions on feed inventory based on intuitions and stage wise (most favourable to least favourable business prospects) random assessment. This DSS will be effective for excessive stock investment, inadequacy of stock to meet demand, and inaccuracy of stock records. The model validation may be sought in understanding a large, complex and untried problem situation for systematic and fresh stock delivery, at last enhancing the business prospects.
Decision support system, Finished feed, Perishable commodity, Inventory (stock)
