Decision Modeling and Analysis
Submit
a six page paper (not including the title and reference pages) on one of the
major topics listed below. Incorporate at least two related scholarly sources:
Topic:Inventory and Inventory
Models
Main Issues in Inventory:
1. Inventory control is
critical to a business’ success, profitability depends largely on inventory.
So, managers need to use inventory models to develop the best inventory policy.
2. Components of an
Inventory Policy
Q = Inventory Order Quantity
R = Inventory Reorder Point
3.
Types of costs in inventory models – holding or carrying costs, order
costs, customer satisfaction costs, procurement or manufacturing costs
4.
Inventory Classifications:
By
process – raw materials, work in progress, finished goods
By
importance – A, B, C
By life
– perishable, nonperishable
Models for Inventory
1. EQO
Model
2.
Production Lot Size Model
3.
Planned shortage model
The paper must (a) identify the main issues in
the chosen area, (b) apply and reference new learning to the chosen area, (c)
build upon class activities or incidents that facilitated learning and
understanding, and (d) present specific current and/or future applications and
relevance to the workplace. The emphasis of the paper should be on modeling application, outcomes, and new
learning.
Requirements of the
Paper
- Must be six double-spaced
pages in length and formatted according to APA style as outlined in the
approved APA style guide. - Must include a
cover page that includes:
– Title of paper
– Student’s name
– Course name and number
– Instructor’s name
– Date submitted
- Must include an
introductory paragraph with a succinct thesis statement. - Must address the topic of
the paper with critical thought. - Must conclude with a
restatement of the thesis and a conclusion paragraph. - Must
use at least two scholarly resources from Proquest or JSTOR. - Must use APA style as
outlined in the approved APA style guide to document all sources. - Must include, on the
final page, a Reference Page that is completed according to APA style as
outlined in the approved APA style guide.
