Introduction to Management Science (10th Edition)

a buffer of extra inventory used as protection against a stockout (i.e., running out of inventory)

the mean of a subset of the population data

in a goal programming model, a solution that satisfies the goals in the best way possible

a portion of the items produced used for inspection

a diagram used in forecasting that shows historical data points

a method for solving problems that includes the following steps: (1) observation, (2) problem definition, (3) model construction, (4) model solution, and (5) implementation

methods for searching through the solutions generated by a simulation model to find the best one

a numeric value that is multiplied by a normal forecast to get a seasonally adjusted forecast

in a forecast, a movement that occurs periodically and is repetitive

a number selected arbitrarily from a range of numbers to begin a stream of random numbers generated by a computerized random number generator

the analysis of changes in the parameters of a linear programming problem

a decision tree that analyzes a series of sequential decisions

the percentage of orders a business is able to fill from inventory in stock during the reorder period

the average number of customers that can be served from a queue in a specified period of time

the price one would be willing to pay to obtain one more unit of a resource in a linear programming problem

in a CPM/PERT network, slack that is shared among several adjacent activities

a network problem in which the objective is to determine the shortest distance between an originating point and several destination points

a forecast of the immediate future that is concerned with daily operations

a form of regression that reflects the relationship of two variables

a tabular approach to solving linear programming problems

the table in which the steps of the simplex method are conducted ; each tableau represents a solution

the representation of real time in a simulation model

the replication of a real system with a mathematical model that can be analyzed with a computer

a computer programming language developed specifically for performing simulation

a waiting line that contains only one service facility at which customers can be served

a variable representing unused resources that is added to a inequality constraint to make the constraint an equation

the rate of change in a linear mathematical function

a weighting factor used in the exponential smoothing forecasting technique

a measure of dispersion around the mean of a probability distribution

in a decision situation, the possible events that may occur in the future

a constant value achieved by a system after an extended period of time

a constant probability that a system will end up in a particular state after a large number of transition periods

running out of inventory

a probability that is based on personal experience, knowledge of a situation, or intuition rather than on a priori or a posteriori evidence

a method for solving nonlinear programming problems that contain only one equality constraint; the constraint is solved for one variable in terms of another and is substituted into the objective function

a variable that reflects the excess above a minimum resource requirement level; it is subtracted from a inequality constraint in a linear programming problem

a set or an arrangement of related items that forms an organic whole