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Quantitative Techniques in Supply Chain
“You can use all the quantitative data you can get, but you still have to distrust it and use your own intelligence and judgment
—Alvin Toffler”
Chapter Objectives
To understand:
- Role of quantitative techniques in supply chain
- Different QTs used in decisionmaking in SC
- Linear programming (LP)
- Modelling and simulation
- Queuing theory
- Inventory models
QTs in Supply Chain
Quantitative techniques (QT) play an important role in managerial decision-making process. QTs are used in cost reduction, servicing customers and in business process optimization. It provides for analysis and enables proper ...
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