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LinkedIn Learning

Excel Supply Chain Analysis: Solving Inventory Problems

via LinkedIn Learning

Overview

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Learn how to use Excel to conceptualize, set up, and solve inventory problems to minimize purchasing cost and reduce the risk and cost of stockouts.

Syllabus

Introduction
  • Solve supply chain inventory problems with Excel
  • What you should know
1. Calculating Order Size for Deterministic Demand
  • Compare setup costs and holding costs
  • Calculate an economic order quantity (EOQ)
  • Calculate orders per year and time between orders
  • Calculate effects of lead time
  • Determine increased cost of constrained purchases
  • Examine the effect of quantity discounts on cost
  • Calculate production order quantities
2. Calculating Economic Order Quantity with Back Orders
  • Describe how allowing back orders affects order quantities
  • Calculate the critical ratio
  • Calculate economic order quantity with back orders
  • Calculate reorder points for inventory policies that allow back orders
3. Analyzing Single Period (Newsvendor) Problems
  • Describe the newsvendor problem and approaches
  • Set up a worksheet to identify maximum profit
  • Fill in the worksheet and calculate profit
  • Calculate and visualize expected profit
  • Identify the optimal order quantity using marginal analysis
  • Incorporate salvage value into your analysis
4. Analyzing Continuous Review Inventory Policies
  • Describe the level of service policies
  • Calculate the base stock required for a target level of service
  • Determine the reorder point based on cycle service level
5. Practicing Inventory Problem Analysis
  • Challenge: Analyze a deterministic demand problem
  • Solution: The deterministic demand problem
  • Challenge: Analyze a back order problem
  • Solution: The back order problem
  • Challenge: Analyze a continuous review inventory problem
  • Solution: The continuous review inventory problem
Conclusion
  • Next steps

Taught by

Curt Frye

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