As an MSc in operations management, I started my career analysing inventory parameters in a 35 main distribution centre, up to 350 locations, four level multi-echelon inventory network. The odd 100.000 spare parts my department was planning ranged from 0.01 US$ to 200k US$ in cost price and demand ranged from less then 1 spare part a year to over a 1000. The whole goal … Continue reading In optimization, settle for the near optimum