Spreadsheet Modeling of (   Q  ,  R   ) Inventory Policies | Zendy

Cobb Barry R. | Zendy

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Spreadsheet Modeling of ( Q , R ) Inventory Policies

Author(s) -

Cobb Barry R.

Publication year - 2013

Publication title -

decision sciences journal of innovative education

Language(s) - English

Resource type - Journals

SCImago Journal Rank - 0.52

H-Index - 19

eISSN - 1540-4609

pISSN - 1540-4595

DOI - 10.1111/dsji.12001

Subject(s) - reorder point , economic shortage , computer science , economic order quantity , point (geometry) , order (exchange) , operations research , industrial engineering , management science , mathematics , supply chain , economics , business , marketing , engineering , linguistics , philosophy , geometry , finance , government (linguistics)

This teaching brief describes a method for finding an approximately optimal combination of order quantity and reorder point in a continuous review inventory model using a discrete expected shortage calculation. The technique is an alternative to a model where expected shortage is calculated by integration, and can allow students who have not had a calculus‐based statistics course to better understand how uncertainty affects inventory decisions.

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