Operations management

Articles tagged Operations management

How to calculate safety stock and reorder point

Although the techniques for reducing its impact have existed for decades, inventory management is still a huge issue in many businesses. Various things happen that can result in costly stock...

How to calculate operations management metrics in Python

Successful operations management is crucial to the overall growth of an ecommerce business. While those in ecommerce, marketing, or data science, can work together the sales coming in and encourage...

How to calculate Economic Order Quantity in Python

The Economic Order Quantity or EOQ represents the optimum purchase quantity for a given product, while aiming to minimise holding costs, shortage costs, and order costs. It’s most commonly calculated...

How to create an ABC XYZ inventory classification model

As everyone who works in ecommerce will know, stock-outs on your key lines can have a massive negative impact on sales and your marketing costs. In many cases, you’ll be...

How to create an ABC inventory classification model

ABC inventory classification has been one of the most widely used methods of stock control in operations management for decades. It’s an intentionally simple system in which products are assigned...