Safety stock with probabilistic model

Hi guys! I am Ezrha and a Certified Industrial Engineer. I am part of the 4th batch of CIE takers and passers back in November 2012.
I teach professional courses such as Methods Engineering, Ergonomics, Production planning and control, Statistical quality control, Advanced statistics, Operations Research, and Facilities planning and design principles, and Engineering economy.
I like creating learning videos for my students to aid in their lectures.
Feel free to comment on them if you have questions about the material, or if you have suggestions or requests for topics that I can discuss :)
For inquiries, you may contact me through [e-mail]

[@datawaka8867]

Thanks, still manage to understand, however, I would have preferred you to speak completely in English, I got what I wanted anyways. Good video.
Sorry, what native language do you speak in your videos, is it Malay?

[@EzrhaGodilano]

Hello, thanks for watching! Most of my videos cater for my Filipino students. I’ll try to put in subtitles next time :)

[@sharabhchatterjee1228]

Hello. thank you for your lecture on the topic. I only faced problem following you at places where you were using your native language. In fact we could not follow those parts at all, and hence it was hard to connect. So just as a suggestion, please keep it completely in English, so that every one can follow and that would be very much beneficial for all the learners. Thank you and keep up the good work! :)

[@EzrhaGodilano]

Thank you! I started this channel for my Filipino students. But since the channel is growing, I will keep that in mind. I also see to it to include an english step by step process so other learners can understand. Feel free to send me an email if you need clarifications on certain parts.

[@sharabhchatterjee1228]

Hi! Thank you for your kind reply. That day I was in a bit of hurry so I managed to study from another video. Thanks for your kind concern. Hope to learn from you in future. (I have been really busy with my assignments, so i forgot to reply you back. Sorry for that.) All the best for your further videos!

[@muzicbebe]

great video I just dont understand how you got the SS figures because i couldnt understand the language and there were no calculations for me to follow

[@johanngabrielnatalaray4186]

I'm glad I saw this video. Thank you Very much!!!!

[@EzrhaGodilano]

Thank you for watching! More videos will be available :)

[@avayaniroula7596]

Greetings mam🙏🙏all else equal, a firm that holds safety stock of inventory will have a lower level of average inventory than firm that doesnot. Is it true or false?? Please provide me answer with reason mam🙏🙏Plz reply mam🙏🙏

[@EzrhaGodilano]

Hello! The concept of safety stock is having additional inventory on hand to address fluctuating demand to avoid stock out costs. Holding safety stock will have a higher average inventory than firms that does not, so the answer to your question is false :)

[@avayaniroula7596]

@@EzrhaGodilano thankyou so much mam for ur valuable reply😍😍

[@jak7244]

Why did you use two language its very confusing

[@EzrhaGodilano]

Hello. I’m sorry, this video was supposed to cater for my Filipino students, hence the use of English and our own language. I will be including subtitles for future viewers like you. For the meantime, you may drop questions here if you need clarifications :)

[@jak7244]

Is there any possibility to obtain a safety stock in between the consecutive demand values. Which is more optimal

[@EzrhaGodilano]

It will depend on the given probability. In this problem, it is only limited to increments of 10, and the probabilities are fixed. In other cases, there may be chances of an equally distributed probability say for demands including those in between. Given that situation, you can always assess the optimal safety stock to keep based on the total cost.

[@raychellematillano9983]

Hi ma’am! Thank you for this lecture, I understand now the safety stock. I just want to clarify ma’am why the stockout cost is $70 since $40 was indicated in the problem?

[@EzrhaGodilano]

Hello! Thank you for catching it, I might be thinking of another problem while doing this video 😅.

[@raychellematillano9983]

@@EzrhaGodilano Oh I see but anyways, thank you for the response ma'am and God bless.

[@EzrhaGodilano]

Thank you for watching! You may disregard the $40 in the given problem and replace it with $70 instead :)

[@junselbahay4396]

facilities po,, activity relationship na topic po maam

[@EzrhaGodilano]

is it with the closeness ranking and selection order?

[@junselbahay4396]

Oo

[@ranedwardzamorao]

Thanks for this maam. OR topics please