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…