Purchasing Decisions For Perishable Inventory: The Newsvendor Model
In supply chain management, the newsvendor problem describes an inventory purchasing decision where: Inventory is highly perishable (e.g., they can’t be sold tomorrow, like a newspaper) Demand is uncertain There are costs associated both with overstocking and understocking relative to demand There may be a lost sales penalty associated for unmet demand There may be […]
Avoid the Bullwhip Effect When Planning for Tariffs Using Data Science
President Donald Trump’s 2025 tariff actions, both actual and threatened, present challenges to U.S. businesses. There is a lot of FUD (fear, uncertainty, doubt) among CEOs, Chief Supply Chain Officers (CSCOs), and other executive leaders who fear that rising tariffs will drive up consumer prices while lowering demand and profitability. There is a real urge […]
White house announcement on supply chains
There’s a lot to cover in the White House’s supply chain announcement on Tuesday. I’d encourage you to read the whole statement. Here are wavetops of what stuck out to me. Like I mentioned at the beginning, there’s a lot in here. Highly recommend you read it in detail and take notes. I left the […]