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Logistics and principle chapter 5, 6 and 7 (Order methods (The sS order…

- - - - Profit margin is expressed in % of the sales price
      - The turnover rate indicates the ratio of turnover divided by the average capital
  - - - Minimizing cost, taking a certain service level into account
    - - By having less inventory and the same turnover, the turnover rate wil increase
    - - Offering existing product in new markets
    - - By outsourcing production, warehousing or transport, a company can free up fixed assets for other purposes
- - - - Contribution margin=the sum of money that is primarily needed to cover the general costs (overhead)
  - - - Basing the layout of the warehouse on criterion of demand frequency etc.
    - - How the storing is oraganized
    - - How ordering of products goes
    - - Wanting to present a complete product range
      - Product is maintained based on competitive considerations
      - No good replacement has been found yet
      - Product is at begionning of its lifecycle
- - - - Aggregation means: adding layers or consolidating
  - - - where the course is determinded by (consumer) research
        
        Like through market research
    - - where the behavior is determinded by one or more variables
        
        Relationship between cause and effect can be reasoned
    - - where subjective choices play a dominant rule
        
        combination of methods. Is also most populair method
    - - where the trend is determined based on historic values
- - - - Applies when the most recent observation is to be given a higher significance
      - Example on page 182-183
    - - Is based on a declining difference between the last forecast value and the last measured value
      - A smoothing fact α is used
        
        This can take values between 0 and 1
      - Formula= Ft+1=αxYt+(1-α)xFt
        
        Ft=forecast at time t
        
        Yt=observation at time t
        
        α=smoothing factor
      - Exapmle on page 183-184
    - - The mean is calculated from a number of recent observations
        
        This average then is the new forecasted value
      - Calculations use the last 2, 3 and 4 observations
      - For example: you take the sum of 2 observaitons and divide it by 2 (same for other quantities)
      - Mean absolute deviation (MAD)
      - See page 180-182 for example
      - Mean square error (MSE)
  - - - This is dangerous, because unwanted building-up of stocks could occur
- - - - Manufacturer
      - Wholesaler
      - Supplier
      - Retailer
      - See figure 6.3
- - - - What everything means on page 210
- - - - Speed of the technological developments
      - Barriers hindering the entrance of new suppliers or not
      - Structural shortage of materials or not
      - Is there a monopoly or oligopoly of for suppliers or not
  - - - High SV and low CSM
    - - Low SV and high CSM
    - - Low SV and low CSM
    - - High SV and high SCM