What This Document Is
This is a homework assignment for BUAD 311/311T, Operations Management at the University of Southern California, focused on the practical application of inventory management and forecasting principles. The assignment centers around real-world scenarios faced by a procurement manager at a department store, requiring students to analyze and develop inventory policies for different product lines. It’s designed to test understanding of core concepts learned in the course.
Why This Document Matters
This assignment is ideal for Operations Management students seeking to solidify their grasp of inventory control techniques. It’s particularly useful when preparing for exams or quizzes covering topics like Economic Order Quantity (EOQ), reorder points, safety stock calculations, and inventory turnover. Students will benefit from working through these problems to build confidence in applying theoretical knowledge to practical business situations. It’s best utilized *after* studying relevant textbook chapters and lecture materials.
Common Limitations or Challenges
This assignment focuses on problem-solving and application, and does not provide foundational explanations of the underlying inventory management formulas or concepts. It assumes a pre-existing understanding of statistical distributions, lead time, and demand variability. The assignment requires independent work and doesn’t offer step-by-step solutions or detailed explanations of *how* to arrive at the correct answers. It’s a test of your ability to apply learned principles, not a teaching tool for the basics.
What This Document Provides
* Multiple inventory management scenarios involving different product types (perfume, glassware, jeans).
* Problems requiring calculations related to order quantities and inventory levels.
* Application of service level targets and cost considerations (holding costs, setup costs, shipping).
* Exercises focused on determining reorder points and safety stock.
* Questions designed to assess understanding of inventory turnover rates.
* A business context involving a department store setting and a CEO’s expectations.
