Teaching Inventory Management Simulation Using E-Learning Software: Blackboard, Elluminate Live!, and Jing

Abstract

Abstract-Introducingthe nuances of inventory management systems to undergraduate business students can be a daunting task. Beyond the traditional focus of the selection of order quantity and reorder point lie more murky considerations such as the impact that stockout cost and supplier selection have on these key parameters, including profit. The purpose of this paper is to illustrate how students can cultivate insights of business simulation settings through easy-to-run, downloadable Excel spreadsheet templates from within their Blackboard-driven course website beyond merely grinding out "answers." This paper shows not only how the simulation templates are employed but also how students can use them to self-correct problems they might encounter during the learning process, how to examine more subtle issues, and how the instructor can use online software to guide students in real time, regardless of the distance that may separate them. Further, while these interactions are taking place, a video software file can be made to memorialize the online learning and can be easily uploaded to the student for their later use should they wish to practice the process. A hypothetical case example of AT&T's management of the Apple iPhone inventory is used to illustrate the process.

An inquiry‐based, partial information exercise for teaching inventory management

“…Umble and Umble (2013) presented a similar simulation game where students must make inventory decisions to minimize total costs when faced with uncertain demand. Oberstone (2008) developed a spreadsheet template to analyze order quantity and reorder point inventory decisions that he incorporated into a suite of online tools to create a self-paced learning module on inventory management concepts. While many of these authors have noted that the EOQ model could be used to develop the recommended policies, the main purpose of these exercises is to allow students to discover the impact that changing various parameters and decisions has on outputs such as total cost, stockouts, and average inventory levels; the purpose is not to emphasize recognizing the input parameters that are required to develop sound inventory ordering policies.…”

Utilizing a Simulation Exercise to Illustrate Critical Inventory Management Concepts

“…The business education literature describes several inventory management simulation games. Gentry and Ruetzel (), Showers (), Pope (), Dhumal, Sundararaghavan, Nandkeolyar (), Oberstone (), Robb, Johnson, Silver (), and Meyer and Bishop () all present computer‐based inventory simulations. Klassen and Willoughby () describe an in‐class simulation where tracking of inventory costs is done by the instructor using Excel and a projector.…”