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311_session_30_conclusions

311_session_30_conclusions - Inventory Systems –...

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1 Conclusions BUAD311 Session 30
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2 Session # 21 Revenue Management Overview Draw a decision tree Two types of node Practice solving decision trees Example on delaying decisions to collect information
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3 Session # 22 Basic Revenue Management Tools Market Segmentation How to set price in order to maximize revenue. Capacity Control How to determine the optimum number of discounted items to sell before holding back in the hope of selling an item at full-fare. Overbook How to set overbooking limits.
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4 Session # 23 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
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5 Session # 24 Demand Uncertainty Tradeoff Newsvendor Model assumption Objective function Marginal analysis Target service level Risk pooling in inventory management
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Unformatted text preview: Inventory Systems – Continuous System – Periodic System – What is the average inventory level? Session #26 Root Beer Game – What is the “Bull Whip” effect? – What is causing this? – How can we combat the problem? 7 8 Session # 27 Incentive and Information Supply Chain Coordination – Double marginalization – Buy-back contract Session #28 The Goal – What is “the goal” of a firm? – Measures – Theory of Constraints 9 10 Session # 29 Zara Case – How Zara differs from its competitor • Low cost? High cost? • Slow? Quick? • Other implications 11 Final Format 4:30 – 6:30 pm on May 11 Location SGM 124 – Format similar to Exam 1&2 – Cumulative – Closed book/notes – Bring your calculator and one double-sided crib sheet. – No laptops, no cell phones. 12 Practice Exams...
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