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Category: Excel Modeling

July 8, 2020

From Factory to Market: Distribution Problem (Linear Programming Approach)

This exercise introduces an important topic in the operations and supply chain management – distribution problem. Essentially, it deals with a problem where you…

July 8, 2020

Service Level, Fill Rate, and Newsvendor Model

Service level is the frequency of the stockout, while the fill rate means the proportion of demands satisfied. Newsvendor model determines the desired service…

July 8, 2020

Inventory Simulation Using Excel Solver (linear programming approach)

This technique offers an Excel solver solution on the previous inventory simulation problem I posted. This exercise can serve as a bridging topic between…

July 8, 2020

Inventory Simulation (newsvendor)

In this modeling exercise, you are asked to determine an inventory level that would minimize the grand total cost for a two-hundred-month planning period….

June 29, 2020

Excel Formulas Useful for Production, Operations, and Manufacturing Management

These are useful Excel formulas for your operations management, quality management courses etc..

March 8, 2020

From Population Distribution to Sampling Distribution (Simulation)

Sampling distribution is an important concept in statistics. We rely on sampling distributions (e.g., sample mean and sample proportion) to make decisions about whether…

November 2, 2019

Price Break Model

This one problem type that confuses the most. Price Break models are used where the price of inventory varies with the order size. In…

Recent Posts

  • Sample Size, Control Distance, and Type I and Type II Errors in Control Charts October 20, 2020
  • Normal Distribution Visualized (Interactive) October 6, 2020
  • “The Area Under the Curve Concept” using Uniform Distribution October 6, 2020
  • Business Statistics Lecture Slide September 8, 2020
  • What could go wrong with a product design? August 13, 2020
  • Essence of Linear Algebra July 21, 2020
  • Data, Histogram, Distribution, and Probability July 21, 2020
  • Tuna Quality Inspection Using AI July 10, 2020
  • From Factory to Market: Distribution Problem (Linear Programming Approach) July 8, 2020
  • Service Level, Fill Rate, and Newsvendor Model July 8, 2020
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