Anyone know any Decision Sciences/Operations Management

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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?

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Re: Anyone know any Decision Sciences/Operations Management

the forum mod Umar Talib :D waito for his answer :p

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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.

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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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Re: Anyone know any Decision Sciences/Operations Management

Your welcome… :k:

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 :slight_smile:

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Re: Anyone know any Decision Sciences/Operations Management

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

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Re: Anyone know any Decision Sciences/Operations Management

I teach Ops Mgt. (4th year), MIS (4th year & Masters) and sometimes (if I feel like it :slight_smile: ) SCM-IS (4th year & Masters) at Wilfrid Laurier University in Waterloo, Canada.