Forecasting

Inventory management – Some effects of risk pooling

Inventory management – Some effects of risk pooling

This entry is part 3 of 4 in the series Predictive Analytics

We have thus shown through Monte-Carlo simulations, that the benefits of pooling will increase with the number of locations and that the benefits of risk pooling can be calculated without knowing the closed form of the demand distribution.

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Inventory Management: Is profit maximization right for you?

Inventory Management: Is profit maximization right for you?

This entry is part 2 of 4 in the series Predictive Analytics

Good inventory management is essential to the successful operation for most organizations both because of the amount of money the inventory represents and the impact that inventories have on the daily operations.

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Budgeting Revisited

Budgeting Revisited

This entry is part 2 of 2 in the series Budgeting

Normally we would expect both the budget and the actual EBITDA to fall somewhere in the region of the expected value.

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Uncertainty modeling

Uncertainty modeling

This entry is part 2 of 3 in the series What We Do

We know that forecasts based on average values are on average wrong. In addition will deterministic models miss the important uncertainty dimension that gives both the different risks facing the company and the opportunities they bring forth.

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Concession Revenue Modelling and Forecasting

Concession Revenue Modelling and Forecasting

This entry is part 2 of 4 in the series Airports

Concessions are an important source of revenue for all airports. An airport simulation model should therefore be able to give a good forecast of revenue from different types of concessions.

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Budgeting

Budgeting

This entry is part 1 of 2 in the series Budgeting

Budgeting involves personal judgments about future values of large number of variables that describes the nature of the business.

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