Initial Supply and Re-order Level of New Service Parts

Article Abstract:

When entering a new product on the market, the advance estimation of service part demand is recommended. Standard forecasting methodology is not of much use because historical demand data does not exist. A case study is featured wherein the failure rate of parts and the amount of end products in operation are essential to demand estimation of re-order level. An applied theoretical model and some practical results are included. These point toward a linear style of growth in the number of products in operation. The life cycle of service parts is divided in three parts: initial, repeat and final. A glossary of symbols is included. This case study involves a central warehouse that supplies other warehouses internationally on an annual basis. About five thousand parts annually are involved. The methodology for parts estimation is based on times between failures and the negative exponential density function. Graphs and tables are included.

Management science, Case studies, Services, Corporations, Supply and demand, Operations Research

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Understanding models with Vensim

Article Abstract:

The Ventana Simulation Environment, Vensim, is an interactive software environment designed to create, explore, analyze and optimize simulation models. It is based on the workbench-toolbox metaphor that supports the modeling process and is outstanding for its capacity for quick and effective understanding of models and data. Although designed for skilled modelers, Vensim's simple language and user friendly format make it attractive to inexperienced users as well.

Evaluation, Product/Service Evaluation, Vensim (Simulation software)

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