Inventory

Lecture Slides

Inventory Overview

Monte Carlo Overview (2/pg)

Hungry Dawg Health Insurance Example: Description | Spreadsheet View | Student File (exe)| Output Example (exe)

Using Monte Carlo for Inventory Analysis Example:COT Inventory Scenario | COT Ordering Sim Example | Analysis Instructions | COT Student | COT File (solution)

In Class Labs Files & Info

Basic EOQ Lab Instructions | Basic EOQ Lab EXCEL Template (EXCEL file)

Monte Carlo Exercise | Solution

Walton Shell

NCAA Sweatshirt Shell | Solution

EOQ Models (Machey Camera Example)

Probabilistic Inventory Models (Machey Camera Example Con't)

Ordering Simulation Models (Home Repair Example)

Simulation with Built In Tools (Walton Bookstore Example)

Textbook Downloads (optional)

Textbook Examples EXCEL Files (EOQ, Camera, OrderSim)

Textbook Example EXCEL Files (Walton 1,2,3)

Related Sites

Decisioneering

Palisade

Revenue Management

Key Points / Outline

We will examine deterministic and probabilistic inventory models, learn how to use the tool of Monte Carlo simulation to examine different inventory scenarios, and also look at revenue management models.

• Overview of the major types of inventory models.

• Using EXCEL to model deterministic and probabilistic inventory models.

• Using Monte Carlo simulation to examine ordering policy alternatives.

• Revenue Management models.

Before Class

1.  Read Thomson Chapters: TBD.

Digging Deeper

"The Power of Vertical Integration: An Interview with Dell Computer's Michael Dell" by Joan Magretta, Harvard Business Review, March-April 1998, pp. 73-84.

"Making Supply Meet Demand in an Uncertain World" by Marshall L. Fisher, Janice H. Hammond, Walter R. Obermeyer and Ananth Raman, Harvard Business Review, May-June 1994, pp. 83-93.

"Control Your Inventory in a World of Lean Retailing" by Frederick H. Abernathy, John T. Dunlap, Janice H. Hammond and David Weil, Harvard Business Review, November-December 2000, pp. 3-8.

Sport Obermeyer, HBS 9-695-022.

"A Smarter Way to Buy" by Zeger Degraeve and Filip Roodhooft, Harvard Business Review, June 2001, pp. 22-23.

"Fast, Global, and Entrepreneurial: Supply Chain Management, Hong Kong Style: An Interview with Victor Fung" by Joan Magretta, Harvard Business Review, September-October 1998, pp. 103-114.

"The Paralyzing Curse of the Bullwhip Effect in Supply Chains" by Hau Lee, V. Padmanaghan and Seunjin Whang, Sloan Management Review, Spring 1997, pp. 93-102.

"The Modernization of Merit Brass" by A. Dale Flowers, Interfaces 23: 1 (January-February 1993), pp. 97-108.

"Making Mass Customization Work" by B. Joseph Pine II, Bart Victor and Andrew C. Boynton, Harvard Business Review, September-October 1993, pp. 108-119.

"From Lean Production to the Lean Enterprise" by James P. Womack and Daniel T. Jones, Harvard Business Review, March-April 1994, pp. 93-103.

"Beyond Toyota: How to Root Out Waste and Pursue Perfection," James P. Womack and Daniel T. Jones, Harvard Business Review, September-October 1996, pp. 140-158.

"Frugal Manufacturing" by Richard J. Schonberger, Harvard Business Review, September-October 1987, pp. 95-100.

"Getting Control of Just-In-Time" by Uday Karmarkar, Harvard Business Review, September-October 1989, pp. 122-131.

In the News

"Playing What If at the Fed," Mike McNamee, Business Week, November 11, 1996, pp. 127-128.

"How Technology Tailors Price Tags" by David Wessel, Wall Street Journal, Thursday, June 21, 2001, p. A1.

"Why Toyota Wins Such High Marks On Quality Surveys" by Norihiko Shirouzu, Wall Street Journal, Thursday, March 15, 2001, pg. A1, A11.

Article Links

"The Illusion of Power" by Thomas Hsiang, OR/MS Today, February 2001, pp. 34-36.

"Building Blockbuster Business" by Robert Oberwetter, OR/MS Today, June 2001, pp. 40-44.