FORECASTING

FORECASTING.

FORECASTING Requirements: 1. Build analytical stock control model/s. What stock control policies do these model/s suggest? State clearly any assumptions you need to make in order to be able to apply these model/s. 2. For each of the policies given (Warnsley Ltd. and Lorrjon Ltd.), build a simulation model. Analyse both policies and recommend for: i. Warnsley Ltd.: the re-order interval and the desired stock level after satisfying any outstanding orders. ii. Lorrjon Ltd.: the re-order level and re-order quantity For each policy, use your model to recommend a system which will provide a 95% service level. 3. Compare and contrast the models and results from (1) and (2) in a report.

FORECASTING

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