Newsvendor model simulation
Innovative simulation through a simple interface guarantees complete focus on the problem at hand.
Quick and efficient learning points
Introduction of key concepts of demand forecasting and supply management for perishable goods (newsvendor model).
Easy debriefing session
Instructor gets comparable results of the session for faster and more efficient debriefing.
The Doughnut Truck simulation brings to life the challenges of demand forecasting and supply management for perishable goods. Created with a sleek design and simple interface, it guarantees participants are fully immersed in understanding the newsvendor model. This dynamic simulation experience is ideally suited for both graduate students and executive education programs, focusing on introducing them to the intricacies of managing perishable inventory in the face of uncertain demand.
Key Learning Objectives:
- Grasp the essential concepts of demand forecasting for perishable goods and the underlying principles of the newsvendor model.
- Develop adept decision-making skills to optimally manage inventory levels for perishable items while accounting for the costs of stockouts and overstocks.
- Enhance collaboration and communication capabilities in a simulated business environment.
- Benefit from swift debriefing sessions that solidify understanding and highlight areas for operational improvements.
The Doughnut Truck simulation challenges participants to manage the inventory of a doughnut truck, ensuring they make optimal decisions on how many doughnuts to stock based on forecasted demand. Given the perishable nature of the product, overstocking results in wasted inventory, while understocking means missed sales opportunities. Participants are tasked with finding the right balance to maximize profits.
With its innovative simulation design, participants interact with a straightforward interface, ensuring their complete focus on mastering the newsvendor problem. Post-simulation, instructors benefit from a streamlined debriefing process with comparable results across sessions, facilitating an efficient review and feedback cycle.
- Groundbreaking Newsvendor model simulation that provides a realistic environment for understanding perishable goods supply management.
- The Quick and efficient learning points ensure participants quickly grasp core concepts and apply them effectively.
- Easy debriefing session provides instructors with comparable results for a streamlined feedback and review process.
The Doughnut Truck Newsvendor Simulation provides a deep dive into the world of perishable inventory management. By engaging with this tool, participants gain a comprehensive understanding of the challenges and strategies in managing perishable stock, setting them up for success in real-world supply chain scenarios.
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