Introducing the nuances of inventory management systems to undergraduate business students can be a daunting task. Beyond the traditional focus of the selection of order quantity and reorder point lie more murky considerations such as the impact that stockout cost and supplier selection have on these key parameters, including profit. The purpose of this paper is to illustrate how students can cultivate insights of business simulation settings through easy-to-run, downloadable Excel spreadsheet templates from within their Blackboard-driven course website beyond merely grinding out “answers.” This paper shows not only how the simulation templates are employed but also how students can use them to self-correct problems they might encounter during the learning process, how to examine more subtle issues, and how the instructor can use online software to guide students in real time, regardless of the distance that may separate them. Further, while these interactions are taking place, a video software file can be made to memorialize the online learning and can be easily uploaded to the student for their later use should they wish to practice the process. A hypothetical case example of AT&T’s man-agement of the Apple iPhone inventory is used to illustrate the process.
- Spreadsheet simulation,
- inventory management,
Available at: http://works.bepress.com/joel_oberstone/1/