Supply Chain of Perishable Products: Inventory Management

Newsvendor Model in less than 60 minutes

4.20 (267 reviews)
Udemy
platform
English
language
Operations
category
4,634
students
1 hour
content
Apr 2021
last update
FREE
regular price

What you will learn

Newsvendor model

Inventory management of perishable products

Maximization of expected profits

Description

In this course, we will learn how to manage a supply chain of perishable products. After completing the course, you will be able to quickly find the optimal order quantity for any perishable product with any demand pattern. We will also consider the optimal level of overbooking for service businesses.

After taking this course, you will gain the following skills:

  • Improve the expected profits of your business with no extra investment

  • Simulate a complex problem and find the optimal solution in MS Excel

  • Master the Newsvendor Model

You can achieve all these by spending less than 60 minutes of your time!

Content

Introduction

Course Introduction
Instructor Introduction

Fundamentals of Newsvendor Model

What is a Perishable Product?
Elements of Newsvendor Model
Finding Parameters

Finding the Optimal Order Quantity

Identifying Demand Probability Distribution
Uniform Distribution
Normal Distribution
General Distribution

Extensions

Newsvendor Model for Overbooking
Simulation

Screenshots

Supply Chain of Perishable Products: Inventory Management - Screenshot_01Supply Chain of Perishable Products: Inventory Management - Screenshot_02Supply Chain of Perishable Products: Inventory Management - Screenshot_03Supply Chain of Perishable Products: Inventory Management - Screenshot_04

Reviews

Ami
December 30, 2020
Very well designed. Teaching methodology is the best. Really able to understand the teacher. Thank you.
Edward
September 24, 2020
You are my life saviour. i wish you could have courses for transportation optimisation and general optimisation problems
Abhinav
May 15, 2020
It is really good and informative. It is neither too slow nor too fast - right pace to understand easily

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Rating

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Enrollment distribution

Supply Chain of Perishable Products: Inventory Management - Distribution chart
3022450
udemy ID
4/19/2020
course created date
5/8/2020
course indexed date
Angelcrc Seven
course submited by