how the expected requirement demand 570 and ave 142.5 calculated
@piyushashah111 күн бұрын
You would have to use some alternate method with yearly data and find the yearly demand (=570). And, then 540/4 (-142.5) is the deseanalized average quarterly demand.
@LiYing-b7e15 күн бұрын
how to install solver?
@piyushashah115 күн бұрын
Search on KZfaq and you will find your answer.
@rachnasahu783825 күн бұрын
Hi, can we use the same method for calculating indices at weekly level throughout the year?
@piyushashah125 күн бұрын
Yes you may. But, it will get very complex like that. I would work at montly levels and then further disaggregate the monthly forecast into weeks. And, you could consider this app for monthly forecasting: zerohour.shinyapps.io/ETS_ARIMA_Prophet_monthly/
@AjinkyaPol-n1g27 күн бұрын
Hello Sir, amazing explanation, where can I get the excel file?
@user-gg1di7lv6tАй бұрын
4th video is missing from the playlist
@nataliah169Ай бұрын
You are amazing! Thank you so so much for this video. I was struggling to find a way to construct a problem similar to this one and this video helped me immensely!
@liquidleelooleelooАй бұрын
Sorry, but what is moved here?
@piyushashah1Ай бұрын
The averages?
@user-io2gf2vl9kАй бұрын
How can we calculate EOQ for perishing goods, because EOQ suggests very high quantities which are not suitable for
@piyushashah1Ай бұрын
Perishable goods would have a very high holding/carrying cost. So, with that, it'd bring down the EOQ.
@user-io2gf2vl9kАй бұрын
@@piyushashah1 ok , thank you. Can we somehow use news vendor model and EOQ in tandem to optimise quantities ?
@srashtigarg26473 ай бұрын
Sir, you are terrific!
@piyushashah13 ай бұрын
And you watched this one also! Thank you again.
@srashtigarg26473 ай бұрын
Thank you, you made it easier.
@piyushashah13 ай бұрын
Glad the video help, and thanks for leaving this comment.
@ankursrivastava71603 ай бұрын
Let’s assume that you decide to earn money by tickets scalping, that is, buying tickets for some events and then selling them at higher price. Disclaimer: ticket scalping is illegal; don’t try that at home; this is an optimisation exercise only. You can buy tickets at official price of $150. Then you try sell them at any price you want. However, if your price is too high then there will be less people willing to buy tickets from you. Also, the number of buyers is a random variable, so you cannot be sure how many tickets you will be able to sell. The number of tickets you can sell (demand) follows lognormal distribution with mean µ and standard deviation = 0.5. Note: The number of tickets sold will be not an integer, which does not make sense. It is OK for calculations as we talk about expectations, but it is not OK for reporting. Use common sense. Value µ depends on your selected price and follows the following formula: µ=6-YourPrice/70 You can return all tickets you don’t sell, but you will get only one third of their official price. How many tickets should you buy and what should be your selling price? What is a probability to make a profit in the case of the optimal solution? Is it worth to “do business”? Hint: to get random numbers from some distribution in Excel, you need to use inverse functions. For example, for lognormal distribution the formula is =LOGNORM.INV(RAND(), mean, st.dev) Hi Sir can you solve this
@emaduddin82083 ай бұрын
Hi sir, What's your email?I would like to get in touch.With you with some assignment help please thanks
@jjkhris4 ай бұрын
Thank you so much for this video. 11 years later and it perfectly covers the content covered in my 300 level college course. I'm approaching finals, and I appreciate the conciseness and simplicity of your explanations.
@Ahkoto4 ай бұрын
my favorite part is how you don't explain the homework that is in conjunction with the videos :))) IT REALLY KEEPS US ON OUR TOES
@ShivamSingh-tb7ur4 ай бұрын
I think for total variable cost u have done wrong......total variable cost will be equals to VARIABLE COST× PRODUCTION DECISION×TOTAL PRODUCED
@ivchvad4 ай бұрын
Thank you very much! Already on the 4th day, I could not master this technique in order to use it in the qualification work of the bachelor. Thanks to you, I was able to calculate everything quickly. Honor and praise!!!
@aquacyanide5 ай бұрын
After 2 weeks of being lost on this topic, you taught me how to do it in 10 minutes. Thank you!
@ajayrathod77775 ай бұрын
Great explanation
@shirlynmwangi57365 ай бұрын
Thank you, this helped me a lot!
@piyushashah15 ай бұрын
Glad this helped you.
@user-vw4fd5yc4u6 ай бұрын
simple and effective
@KSBrar-dk2yi6 ай бұрын
what's about demand flow
@piyushashah16 ай бұрын
Demand is information, right?
@EvilAbD6 ай бұрын
Dear Piyush, thanks for the videos, very useful, I have a question, can I use this method for seasonal data? Why not? what if I used? how the results will affect the forcasting?
@ciai73177 ай бұрын
Where that 570 for year 4th come from?
@thivo75137 ай бұрын
Thank you for your lesson
@soham94968 ай бұрын
Thank you sir , revising this before my business maths practical
@RAKESHYADAV-ht2qp9 ай бұрын
How to calculate cost of holding and cost of ordering
@piyushashah19 ай бұрын
To be honest, you can't calculate the costs. And, the costs do not behave as assumed by the model. EOQ has zero practical use and is merely a conceptual idea.
@RAKESHYADAV-ht2qp9 ай бұрын
great video sir
@wowwhydopplhavemyid10 ай бұрын
Watching your vids again! 10 years working in supply chain, but your videos always give a great reminder!
@piyushashah110 ай бұрын
Thanks for writing this comment Bryce.
@quanminh359110 ай бұрын
em lạy thầy
@gmbp198310 ай бұрын
Please explain what is the LINEARITY CONDITIONS NOT SATISFIED.
@darylr5505 Жыл бұрын
Why do those people in line look so dejected? Is it the DMV?
@darylr5505 Жыл бұрын
Someone told me the other day that "queue" is the only word with four silent letters... I replied, "Nah, they're just waiting their turn."
@amacardo Жыл бұрын
Dr. Shah, you have the ability to explain complex topics in a very easy way. Thank you,
@Nyaudioguy Жыл бұрын
I found this to be very enlightening.
@andrewmuscat4991 Жыл бұрын
Explained really simply and crystal clear, thanks!
@lemingsoup Жыл бұрын
Thank you for this. Very straightforward and well explained.
@utfitnessfan2847 Жыл бұрын
This is awesome. Thank you!
@piyushashah1 Жыл бұрын
Thanks for leaving the comment. I am glad the video helped you out.
@katesaychaleun6322 Жыл бұрын
Not sure why 966.67 is rounded up to 977. Shouldn't it be 967?
@Mykels106 Жыл бұрын
Thank You for the help. I am studying for my CPIM Certification. It helps hearing it sometimes not just reading.
@methadrin1782 Жыл бұрын
You are a hero man!
@PANCHAlAKSHIT Жыл бұрын
Thank You sir
@piyushashah1 Жыл бұрын
Do have a look at the entire playlist.
@surbhipalkar9717 Жыл бұрын
Thanks a lot :)
@piyushashah1 Жыл бұрын
I'm happy the video helped. There are other video lessons on LP and related topics on my channel. Do have a look.
@giovannibudiardjo7939 Жыл бұрын
Where is the location of daily demand and largest shortage quantity?
@friendvsfriend797 Жыл бұрын
Superb Video, such an easy way of teaching, concept is easily taught
@piyushashah1 Жыл бұрын
Thanks for leaving the comment. I am happy the video helped you.
@amanChokhani Жыл бұрын
YOU ARE A LEGEND MATE
@piyushashah1 Жыл бұрын
Hey, I am still alive, not yet a legend. Haha. Kidding. Thanks for the comment.
@jandranmarri603 Жыл бұрын
How did you find standard deviation In column 8, person 1 🖋
@mabisvera8019 Жыл бұрын
Great Video!
@mianwu885 Жыл бұрын
thank you so much sir! I have been confused about it so long, now I got it!!!
@piyushashah1 Жыл бұрын
Happy this helped. There are other videos on transhipment on my channel also. You might find that useful also.
@waliimporter Жыл бұрын
can pls help in using the free software for forecasting. I input the data; no result displayed.!
@piyushashah1 Жыл бұрын
Not sure why. You might want to try this tool that I have developed for forecasting demand for monthly data: zerohour.shinyapps.io/ETS_ARIMA_Prophet_monthly/?_ga=2.50268966.1622986526.1672339493-1036110055.1665609118