Uniform distribution

Inventory management – Stochastic supply

Inventory management – Stochastic supply

This entry is part 4 of 4 in the series Predictive Analytics

The introduction of uncertain supply has shown that profit can still be maximized however the profit will be reduced by increased costs both in lost sales and in excess inventory. But most important, profit variability will increase raising issues of possible other strategies.

Read More →

Read More →

Plans based on average assumptions ……

Plans based on average assumptions ……

This entry is part 3 of 4 in the series The fallacies of scenario analysis

Don’t worry about the average, worry about how large the variations are, how frequent they occur and why they exists.

Read More →

Read More →

Top