ERIC Number: EJ1033113
Record Type: Journal
Publication Date: 2013-Aug
Reference Count: 3
Controlling Inventory: Real-World Mathematical Modeling
Edwards, Thomas G.; Özgün-Koca, S. Asli; Chelst, Kenneth R.
Mathematics Teacher, v107 n1 p62-67 Aug 2013
Amazon, Walmart, and other large-scale retailers owe their success partly to efficient inventory management. For such firms, holding too little inventory risks losing sales, whereas holding idle inventory wastes money. Therefore profits hinge on the inventory level chosen. In this activity, students investigate a simplified inventory-control problem. Within this context, students develop tables, graphs, and algebraic representations to reach a decision. This activity has been successfully completed with students in both first- and second-year algebra.
Descriptors: Algebra, Mathematics Instruction, Mathematical Models, Retailing, Tables (Data), Graphs, Facility Inventory, Secondary School Mathematics, High Schools, Relevance (Education), Teaching Methods
National Council of Teachers of Mathematics. 1906 Association Drive, Reston, VA 20191-1502. Tel: 800-235-7566; Tel: 703-620-3702; Fax: 703-476-2970; e-mail: firstname.lastname@example.org; Web site: http://www.nctm.org/publications/
Publication Type: Journal Articles; Reports - Descriptive; Tests/Questionnaires
Education Level: High Schools; Secondary Education
Authoring Institution: N/A