Teaching data‐driven decision making for inventory analysis with Monte Carlo simulation

Inventory management and the ability to make data‐driven decisions under uncertainty are two critical components of supply chain management. This brief describes how an Excel‐based Monte Carlo simulation of fuel and lottery purchases can be used to teach students to analyze a system with randomness....

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Bibliographic Details
Published inDecision sciences journal of innovative education
Main Authors Pritchard, Alan, Taylor, Daniel, Belford, Matthew
Format Journal Article
LanguageEnglish
Published 08.10.2024
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