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ERIC Number: EJ1061624
Record Type: Journal
Publication Date: 2013-Jan
Pages: 9
Abstractor: As Provided
Reference Count: N/A
ISSN: ISSN-1540-4595
Utilizing a Simulation Exercise to Illustrate Critical Inventory Management Concepts
Umble, Elisabeth; Umble, Michael
Decision Sciences Journal of Innovative Education, v11 n1 p13-21 Jan 2013
Most undergraduate business students simply do not appreciate the elegant mathematical beauty of inventory models. So how does an instructor capture students' interest and keep them engaged in the learning process when teaching inventory management concepts? This paper describes a competitive and energizing in-class simulation game that introduces students to basic inventory management concepts. This hands-on, active-learning exercise presents students with a simulated single-product inventory environment that requires them to make ordering decisions in an attempt to minimize the total relevant inventory costs in the face of variable demand.
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Publication Type: Journal Articles; Reports - Descriptive
Education Level: Higher Education; Postsecondary Education
Audience: N/A
Language: English
Sponsor: N/A
Authoring Institution: N/A