single period inventory model W r i t i n g
The answers to the questions can definitely be in the form of an essay. Most of your answers will require you to think “which mathematical model” may be appropriate to use for the described situation in the question. You will need to provide justification for your choice of the model.
- For example, you may say that “single period inventory model” is appropriate to manage vaccine stock because vaccines are perishable. Do you think the “optimal service level” can possibly come out to be unreasonably low when the formula for the single period inventory model is used. How would you calculate the cost of shortage? Can you attach a dollar value? If you are not able to figure out the exact dollar figure, can you list what must be considered when figuring out a dollar value for the cost of shortage?
If you see fit, you could use formulas in your reports but that means you will need to provide some justification for any number you plug into a formula. These numbers can be, for example, based on the research you have done; provide the citations for the sources from which you pulled the numbers.
- If you have found an article that tackles similar questions to the one you are answering in the project description, paraphrase what’s explained in the article. Do not directly copy the sentences that would be considered a form of cheating, called plagiarism. To avoid such a situation do the following a) summarize what you have learned from the article in your own words 2) and you must provide the citation for the article that you have read and learned from.
- For each question (mini project), points are awarded for:
- 30% The quality of the research youconduct
- Do you cite credible sources?
Are you backing up factual claims you make?
- You might not be able to apply the specific models we discussed (for example, c-chart), but you should still be able to apply the general concepts (for example, samplesize, type 1 error, type 2 error, etc.).
We often talk about variability/uncertainty in class. How does that affect the decisions that are being made during this pandemic?
- One of the things I hope you take away from this class is how to break problems down and structure them. How well are you able to do that in this context?
30% How well you write about each topic
- Do you clearly show where you got what information, and show how you came to the conclusions you did? Is it obvious what is fact and what is your analysis/conclusion?
- Do you layout the assumptions you made?
Is your writing well -edited and largely free of spelling and grammar mistakes?
- Does the document look professional?