Introduction
This module studies situations in which inventory cannot be carried from period to period similar to Newsboys Model. e.g. perishable products are fruits and vegetables in supermarkets, products that rapidly become obsolete, such as fashion items, and those that are bought for specific time periods, such as a promotional sale for a holiday.
Instructional Objectives
Calculate the appropriate order quantity in the face of uncertain demand using Excel and Cumulative Probability for Newsboy Model simplified.
