Teaching the News-Vendor Problem and Supplier-Retailer Collaboration Using a Basic Excel Simulation Model.

• In Event: INNOVATIVE EDUCATION: Spreadsheet-Based Classroom Innovations and Methods

Abstract

This talk explains how teaching OM-SCM analytical formulas in newsvendor problem and supplier-retailer revenue and cost coordination can be simplified by structuring a basic simulation model in Excel. We cover metrics such as the optimal service level, expected loss, fill rate, expected profit, and value of information.

Author

• Ardavan Asef-Vaziri, California State University, Northridge