Module Learning Objectives:
- To understand the purpose and importance of Inventory decision making.
- To understand the trade-offs in the "Newsvendor" inventory model.
- To learn the basics of Simulation
- To apply the simulation procedure to the "Newsvendor" Inventory model for making a one time inventory decision in case of a Normally Distributed Demand.
Module Assignments:
- Study the Theory and Video Tutorial thoroughly
- Download the Simulation Package and conduct experiments as per the given instructions
- Complete the on-line quiz to evaluate your learning
Click here : Procedure to setup system and run experiments