In this study, two shared storage assignment policies are compared in an Automated Storage/Retrieval System (AS/RS) by using computer simulation. The AS/RS is assumed to operate under a continuous review, order quantity, reorder point inventory policy. The average travel time of the AS/R machine for storing and retrieving products is used as the main performance measure. Sensitivity of the system to product variety, inventory replenishment lead time, and demand rate is investigated, as well as the effects of the inventory policy and the product classification technique used. Our main conclusion is that the turnover-based policy, in general, outperforms the duration of stay-based policy. However, the' difference between the performance of the two policies becomes insignificant under certain conditions.