by Don Johnston | Jan 3, 2018 | Announcements, Forecasting
Some incorrect formulae were found in the simulation spreadsheet described in the article entitled “An Educational Inventory Management Simulator”. They have been fixed.
by Don Johnston | Mar 5, 2017 | Forecasting, Replenishment
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...
by Don Johnston | Feb 1, 2017 | Forecasting, Replenishment
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...
by Don Johnston | Jan 22, 2017 | Forecasting, Inventory Management Basics, Lead Time Reduction, Replenishment
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...
by Don Johnston | Nov 1, 2016 | Forecasting, Inventory Management Basics, Lead Time Reduction, Replenishment
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...
by Don Johnston | Sep 18, 2016 | Announcements, Forecasting, Replenishment
There is now an online Monte Carlo inventory management simulator available for use. Clicking on the “Simulator” tab in the menu at the top of the page will open the simulator in a new browser tab. Click here for instructions for using it. Each simulation...
Recent Comments