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You’re very welcome! Thanks for watching our videos.

Thanks for watching and thank you for the feedback! PDF’s for every single topic can be found for free at www.OperationsUniversity.Org

Thanks Alan! I appreciate the feedback and I’m glad you are utilizing the content. You can find more support materials at www.OperationsUniversity.Org

Hi Wijtha, you are welcome! Glad I could help. Thanks for subscribing to this channel & watching our videos. We appreciate viewers like you!

Hi Wijtha, thanks so much for your kind words! I really appreciate the feedback. I created these 60 videos for my Operations & Supply Chain students at the university where I am adjunct faculty. After posting on them also on TH-cam, it seems that folks really like them, so I have begun creating new content that will be published soon. My new videos will be shorter and are more focused on solving the quantitative problems taught in my coursework. Thanks again for the positive feedback & for subscribing to my channel!

Hi Austin, sorry, I have never used the Exponential Triple Smoothing (ETS) forecasting function in MS Excel. But send me your model through www.OperationsUniversity.Org and we can try to check the formula & forecast accuracy? If it's a good forecasting tool, maybe we can create a video about it in the future!

I will do that!

Hi Sara, this is a great question. There are two instances when you would take 1-Z... 1) When the expected completion time (the critical path) is LONGER than the specified time, and 2) When the expected completion time (the critical path) is shorter than the specified time, but the question asks "what is the probability it will take MORE THAN the specified time". The 2nd one is a little bit of a trick question. My students hate it. But that's the second example of when you would take 1-Z.

@@OperationsAndSupplyChain Thanks sooo much for answering my question, just to see if i got it if our critical path is 25 days and it asks to Determine the probability that the project will take more than 20 days to complete. and the standard dev is lets say 3... after finding the z and going to the table, thats when I do 1-Z but if my critical path (expected time) is 18 days, which is less than the specified date..... after finding the Z, there is no need to subtract by 1?

Correct. Assuming the question in the second statement is something like "if the critical path/expected time is 18 days and the project needs to be completed in 20 days, then what is the probability the project will be completed on time?".... Then you do not subtract by 1. You've got this!

Hi Sara, the question will tell you when to stop crashing. For example, if the project has a total duration of 17 weeks, but it needs to be completed in 15 weeks, then you know that you will need to crash the project by 2 weeks.

@@OperationsAndSupplyChain Makes sense thank you!! I was wondering what if they dont tell you when it needs to be completed like if I get a chart and I see that there is two paths for example a-b-f (23 days) c-d-e-f (20 days) Would I basically take the critical path a-b-f and try to get it down to 20 days? then afterwards I look at the two paths and see if I can decrease it by one or two days without exceeds the limits of my cost? Thank you again for all your help and time!!

In my humble opinion that would be a bad question. It would need to ask specifically how much they wanted the project crashed otherwise you would just crash the maximum amount possible and waste money.

Hi Sara, with project crashing you will pick the cheapest option (activity) that is on the critical path. You will crash it once. You do not crash every variable on the critical path. In my examples that will take your projects down by 1 week. If that gets you to your desired result, then you are done. If you need to expedite the project more, then you would crash the next activity that is the lowest cost option again, and it must always be on the critical path. You keep doing this until you get the project down to the desired duration. Does that answer your question?

@@OperationsAndSupplyChain yes thank you so so much!

Hi Monika, you are welcome! If you are interested, you can find some practice problems about MAPE on our website at www.OperationsUniversity.Org. Thanks for watching our videos!

Hi Prabashni, I'm glad the video helped you to understand forecast accuracy. It can be a complicated subject! Thanks for watching!

Hi Aya, thank you for the feedback. I am glad you are finding these videos helpful as you study for your final exam. On www.OperationsUniversity.Org you can find some Practice Problems for Ch12 (Inventory Management) that you can use as well.

Thanks Kare, I appreciate the feedback!

Hi Alberto, thanks for watching my videos. The lecture content is taken from the Pearson Textbook "Operations Management, Sustainability and Supply Chain" 14th edition by Jay Heizer, Barry Render and Chuck Munson. The EOQ & EPQ topics are covered in Chapter 12 on Inventory Management. If you'd like to get free copies of this slide deck (and others), you can get them on our website at www.operationsuniversity.org

Hi Ayesha, you're so welcome! And thank YOU for watching!

Hi Sara, yes, both of those topics are covered in other videos. 1) Aggregate Planning can be found in the Ch14 playlist, specifically th-cam.com/video/GXb9D-k-0rM/w-d-xo.htmlsi=WhpotRVjpx6UzKOC 2) Waiting lines can be found in the Little's Law video: th-cam.com/video/r_T8veWYrEA/w-d-xo.htmlsi=cklJsXZZECL3TKy4 Thanks for watching our videos! ~ Brent

Hi Esmeralda, you are welcome - it's my pleasure! I am glad you found the videos useful. Thanks for watching!

Hello Vivek, with a linear regression forecast you must have historical X and Y data to calculate the forecast for future periods. Additionally, the correlation analysis will measure the strength of that correlation between the X and Y data, but you must have both variables to do the analysis.

@@OperationsAndSupplyChain thanks for clarification. i have historical data for both x and y for last 2 years, say 2022 and 2023 ( so both payroll and sales from your example) and i am also provided by the future data for variable x( payroll) for next 2 years ( 2024, 2025) . how can i forecast the vlaues for y for 2024,2025 using this data? thats the solution i am looking for

Hi Vivek, you'd need to use a different formula if you only have the Payroll data. Here is the video that covers the Least Squares trend projection: th-cam.com/video/0E5WcfM7JRw/w-d-xo.html

@@OperationsAndSupplyChain thankyou sir. so, it means from the line equation i can find out any value of y?

Yes, that is correct. But - it will get less accurate the further out you try to forecast.

Hello Vivek, thanks for your question. In this video I explain how to calculate the forecast starting at 3:07. Then, later in the video (around 13 minutes) I perform the Nodel Construction example in MS Excel. Since I had gone through the four steps earlier in the presentation I did not go through all of them again.

Thanks Jacques! I appreciate your enthusiasm and the positive feedback. Thanks for watching!

Hi Catarina, that is correct. You can't just mix/match the holding costs & price breaks.. You must find the feasible order quantity based on the holding cost & price breaks. Then after that you do the same calculation, using the lowest volume in the next price break quantity, and repeat that process until you calculate the lowest total cost. The lowest total cost will not always be the smallest quantity in the largest price break quantity, because the holding costs will also be increasing.

@@OperationsAndSupplyChain thank you so much for the video and the explanation

Hi Ivan, I'd recommend watching my video on EOQ in Inventory Management & then my other video on How to calculate a Reorder Point (ROP). That video explains how to calculate order quantities while factoring in Safety Stock. Thanks for watching!

Hello Nhu, thanks for the feedback on this video! I am glad this was able to help you with your class. Take care!

Hi Boris, thanks for watching my videos and for the positive feedback. To answer your question, when comparing Faber Paint vs Smith Dye we used different weightings to determine who was better. In the next example, when Faber Paint scored 84 points, the weighting was already built into the categories. For instance, the top score in Quality (PPM) and Delivery (OTIF) yielded 35 points, whereas the top score in Inventory Turns only yielded 10 points. So technically the weighting is taken into consideration, it is just applied differently. Hope that helps!

Hi Chizungu, thanks for watching my videos and for the positive feedback! You are very welcome :)

Hi Kehinde, thank you for the positive feedback! I am glad you find the videos helpful. Thanks for watching!

@@OperationsAndSupplyChain Hello, I would like to know if you give hands on training on the inventory mgt system software and the warehouse management systems. I will be expecting your response. Thank you, Kehinde.

Hi Kehinde, if you become a Premium member of the Operations & Supply Chain University TH-cam channel then you will receive 1 hour per week of hands on virtual office hours by Zoom. During those sessions we can discuss some inventory management systems and processes, but I do not have access to many of the "software" systems that are on the market & available for supply chain & operations professionals.

Hi Cansu, you are sooo welcome! Thanks for watching my videos!

Hi Shadia, happy to help! Thanks for watching!

Hi Kevin, thanks for the question. We only take the working days into consideration (not all 365 days), because there will be no bottleneck of orders from the weekend, if they do not work on the weekends. You only use the working days per year for the calculation.

Hi Sara, happy to help! Thank you for watching my videos. And I hope I find $100 on the ground too :)

Thanks Kevin, I appreciate the positive & kind feedback! Thank you for watching my videos!

Glad to hear it! Thanks for watching Christy!

Hi Namuduri, thank you for the feedback! I'm glad you are finding them helpful.

You're very welcome Natenin! Thanks for watching my video's!

No problem 👍 My pleasure!

Thanks Enkelejda, I'm glad you found it useful!

You are very welcome. Thanks for watching!

Thanks Linus! Glad you found the video useful.

Good question. The last example provides the purchase cost per unit because the holding cost (H) is calculated as a percentage of the purchase price. There are three main inventory models for independent demand; EOQ, EPQ/POQ, and the Quantity Discount Model. The Quantity Discount Model takes the purchase price into consideration, so then you would revise your order quantity and buy Q, not the EOQ (Q*). Please see that video for an explanation of how to incorporate the item unit cost into the purchase quantity decision.

Hi Ayushi, thank you for the feedback. I am glad that the video was helpful for you. Take care!

Hi Jad, I had to think about this one! Technically you are correct, there is also the option to crash activities E & D just like C & D. Activity C has a crash cost of $1,000, which when combined with D @ $1,000 adds up to $2,000 (but that is still more than G @ $1,500). Activity G is the correct activity to Crash because it has the lowest Crash Cost. Good question, thank you.

@@OperationsAndSupplyChainPerfect! Thank you for the reply

You are welcome! I am glad it was helpful. Thank you for the feedback.

Hi Wisani, thank you for the TH-cam comment and for being the FIRST PERSON to post in the forum on our brand new Operations University website www.operationsuniversity.org! Per your feedback, I have posted the Ch14 Blank MRP Matrix on our website in the Chapter Outlines section. It is in MS Excel format and completely free to download.

@@OperationsAndSupplyChain Thank you very much, much appreciated.

Greetings! I'm glad you asked! Microsoft Excel templates to help with these lecture recording calculations and the MyLab Homework assignments are in development, and will be posted on www.OperationsUniversity.Org within the next few weeks!

Hi Ahsid, you are welcome! Thanks for the feedback. I am glad you found the explanation easy to understand :)

Hi Grace, if the critical path is not given you will have to solve for it. That is Step #3 of the CPM Method. After you calculate the slack of every single node/activity in the project, only then will you be able to determine the critical path (which is the longest duration through the project).

Hi Ebadullah, thank you for the question. Frito-Lay is a good example of a Product Focus because it is a high volume/ high output product that does not have much variety. Frito-Lay may put the chips into different sized bags, but the product is the same (so only the package size will differ). That would not be considered variety. The opposite example that I used was a Process Focus, which has low volume/output and high variety, and that would be a hospital patient. Patients (the product) come to the hospital with a large variety of issues/alignments and hospitals do not get a high volume of the same issues every day. Each patient & problem is unique.

Hi Moataz, thanks for the feedback! The next batch of videos will be posted soon (starting with chapter 1, Operations & Productivity).

Hi Azanda, You're welcome, I'm glad you was helpful for you! Thanks for watching.