How Did the Greeks Balance the Real with the Ideal

question 19

Short Answer

How did the Greeks balance the real with the ideal in their sculptures?

Calculate standard deviation of demand during lead time under different scenarios.

Master strategies to achieve specific supply chain metrics like fill rate and expected shortage per replenishment cycle.

Understand the impact of supply uncertainty reduction on safety inventory requirements.

Grasp the concept of postponement in supply chain management.

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Definitions:

Bullwhip Effect

A situation in supply chain management where slight shifts in demand from consumers cause increasingly amplified shifts in demand at the levels of manufacturers, distributors, and wholesalers.

Primary Causes

Fundamental reasons or root causes that directly lead to an event, situation, or outcome, distinct from secondary or tertiary factors.

Remedy

Refers to a treatment, solution, or means of correcting or improving a problem, situation, or condition.

Bullwhip Measure

A metric used to quantify the increase in fluctuation at higher tiers of a supply chain caused by small changes in demand at the consumer end.