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ERIC Number: EJ1061629
Record Type: Journal
Publication Date: 2013-Apr
Pages: 10
Abstractor: As Provided
Reference Count: N/A
ISBN: N/A
ISSN: ISSN-1540-4595
Spreadsheet Modeling of (Q,R) Inventory Policies
Cobb, Barry R.
Decision Sciences Journal of Innovative Education, v11 n2 p175-184 Apr 2013
This teaching brief describes a method for finding an approximately optimal combination of order quantity and reorder point in a continuous review inventory model using a discrete expected shortage calculation. The technique is an alternative to a model where expected shortage is calculated by integration, and can allow students who have not had a calculus-based statistics course to better understand how uncertainty affects inventory decisions.
Wiley-Blackwell. 350 Main Street, Malden, MA 02148. Tel: 800-835-6770; Tel: 781-388-8598; Fax: 781-388-8232; e-mail: cs-journals@wiley.com; Web site: http://www.wiley.com/WileyCDA
Publication Type: Journal Articles; Reports - Descriptive
Education Level: N/A
Audience: N/A
Language: English
Sponsor: N/A
Authoring Institution: N/A