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    Anyone know any Decision Sciences/Operations Management

    I am having some trouble figuring out the probability of a stockout in Q-system vs. P system, i.e. fixed order vs. fixed time. Anyone know?

    #2
    Re: Anyone know any Decision Sciences/Operations Management

    the forum mod Umar Talib waito for his answer

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      #3
      Re: Anyone know any Decision Sciences/Operations Management

      hmmm... what're the specifics of the question...

      For a Q-model, the Probability of a stockout is often determined by the std. deviation of demand per period, and the lead time for replenishment.

      For the P-model, the probability would be a function of your protection interval. In general the safety stock level that needs to be maintained in a P-model is higher than the Q-model, so by that notion, there'd be more chance of stockout in the P-model (??)


      I can help better if you give me more specifics.
      For reason, ruling alone, is a force confining - and passion, unattended, is a flame that burns to its own destruction - Khalil Gibran

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        #4
        Re: Anyone know any Decision Sciences/Operations Management

        Thanks Umar Talib, I went back and looked at it again, and figured it out, and what you said is right on. The way the question was worded was just a little confusing.

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          #5
          Re: Anyone know any Decision Sciences/Operations Management

          Your welcome...

          I'm formulating an Aggregate Planning question for a 4th year undergrad assignment - man... coming up with a question can be harder than answering it
          For reason, ruling alone, is a force confining - and passion, unattended, is a flame that burns to its own destruction - Khalil Gibran

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            #6
            Re: Anyone know any Decision Sciences/Operations Management

            Cool, might I ask what courses you teach and at what institution?

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              #7
              Re: Anyone know any Decision Sciences/Operations Management

              Originally posted by masterofall240
              Cool, might I ask what courses you teach and at what institution?
              I teach Ops Mgt. (4th year), MIS (4th year & Masters) and sometimes (if I feel like it ) SCM-IS (4th year & Masters) at Wilfrid Laurier University in Waterloo, Canada.
              For reason, ruling alone, is a force confining - and passion, unattended, is a flame that burns to its own destruction - Khalil Gibran

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