Lecture 7 Flashcards
(16 cards)
1
Q
RMSE ….
A
Root Mean Square Error (RMSE). It is a commonly used metric to measure the accuracy of predictions in models by quantifying the average difference between observed and predicted values.
2
Q
Q:
A
Order quantity
3
Q
T:
A
cycle length
4
Q
D:
A
Demand per period
5
Q
S:
A
Ordering cost per order,
6
Q
h:
A
holding rate per period as % of unit cost
7
Q
C:
A
purchase cost
8
Q
H:
A
Holding cost per unit per period (hC)
9
Q
Cu:
A
Shortage cost per unit
10
Q
ss:
A
safety inventory
11
Q
TC():
A
Total cost
12
Q
Economic Order Quantity (EOQ)=
A
Q^*=√(2SD/CH)=EOQ
13
Q
TRC(Q^*)=
A
√2SDH
14
Q
Cycle inventory =
A
Q*1/2
15
Q
T =
A
Q/D
16
Q
A
