Author Archive | Don Johnston

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Lead Time Analysis – Part 2

This article contains information concerning the mathematics involved in the spreadsheets which are described in Part 1. That article was revised on 5 March 2017 and the spreadsheets were revised on 19 February 2017. It is assumed that the readers of this article have some knowledge of statistical mathematics. Any row which is concerned with […]

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Calendar

Lead Time Analysis – Part 1

Replenishment decisions rely on forecasts of lead times amongst other things. If the mean lead time for an item is not expected to change much then the average of recent lead times for the item can be used. Unless that item is purchased frequently, there won’t be many lead times to use for averaging purposes. […]

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Purchase order

Principles of Good Inventory Management

It is easy to reduce investment in inventory if you don’t mind a deterioration in customer service. Likewise, it is easy to provide good customer service if you don’t mind having a large investment in inventory. Good inventory management is concerned with having a low investment in inventory in relation to the customer service provided […]

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Inventory management simulation

An Educational Inventory Management Simulator

I have developed an inventory simulation spreadsheet for educational purposes. It provides two facilities which are not provided by the online simulator which is accessed by means of the “Simulator” tab. The additional facilities are graphs and use of your own demand history. The online facility is more versatile than the spreadsheet. Also, it carries […]

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Dice suggesting Monte Carlo simulation

Monte Carlo Simulator – Part 2

This article contains detailed information concerning the online Monte Carlo inventory management simulator which can be accessed by clicking on the “Simulator” tab in the menu at the top of the page. In parts of this article, it will be assumed that the reader has some knowledge of statistics. If you don’t have a statistical […]

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Don Johnston

Interactive Facilities Being Developed

I am developing interactive facilities for use by readers of this blog. For that reason, there have not been any posts for a while. A large proportion of my future posts will contain online calculators. I am currently testing an online inventory management simulator which I have developed. I will then continue with the development […]

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