Utilizing a Simulation Exercise to Illustrate Critical Inventory Management Concepts |
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| Authors: | Elisabeth Umble Michael Umble |
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| Institution: | Baylor University, Hankamer School of Business, Department of Management and Entrepreneurship, , Waco, TX, 76798 |
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| Abstract: | Most undergraduate business students simply do not appreciate the elegant mathematical beauty of inventory models. So how does an instructor capture students’ interest and keep them engaged in the learning process when teaching inventory management concepts? This paper describes a competitive and energizing in‐class simulation game that introduces students to basic inventory management concepts. This hands‐on, active‐learning exercise presents students with a simulated single‐product inventory environment that requires them to make ordering decisions in an attempt to minimize the total relevant inventory costs in the face of variable demand. |
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| Keywords: | Operations Management Teaching using games Cooperative learning |
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