311_session_20_review

311_session_20_revie - for trend forecast How many to stock for a given stockout probability 8 Session 17 Introduction to Inventory and Supply

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1 Review BUAD311 Session 20
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2 Objectives Concepts review Question & Answer
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3 Session # 12 Components of an optimization problem Decision variables Objective function Constraints Understand what a linear program (LP) is Use Excel Solver to find the solution to an LP
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4 Session # 13 Excel reports Answer report Binding constraints Sensitivity report What if we change the RHS of a constraint? What if we change the coefficient to a decision variable? Allowable increase/decrease
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Session #14 Red Brand Canner Formulate Solve Interpret 5
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6 Session # 15 Forecast is not a single number Error measure MAD Moving Average Exponential Smoothing Tradeoff: stability and responsiveness
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7 Session # 16 Identify the risk pooling effect in forecasting Double exponential smoothing method
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Unformatted text preview: for trend forecast How many to stock for a given stockout probability 8 Session # 17 Introduction to Inventory and Supply Chain Management – Why do we carry inventory? – How inventory will cost us? EOQ Model – Model assumption – Components of the total cost expression – Tradeoff 9 Session # 18 Demand Uncertainty – Tradeoff Newsvendor – Model assumption – Objective function – Marginal analysis – Target service level Risk pooling in inventory management Session #19 Guest Lecture 10 11 Exam 2 Format similar to Exam1 Covers only post-exam1 materials Closed book/notes One double-sided crib sheet is allowed Bring your calculator No laptops No cellphones 1 hour 40 minutes...
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This note was uploaded on 02/15/2011 for the course BUAD 311 at USC.

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311_session_20_revie - for trend forecast How many to stock for a given stockout probability 8 Session 17 Introduction to Inventory and Supply

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