#012inventory

We keep running out of stock

Why does stock hit zero before replenishment arrives?

⚡ 01 · Executive Summary

Why This Decision Matters

Stockouts occur when inventory hits zero before the next replenishment arrives, resulting in lost sales, empty shelves, and customer dissatisfaction.

⚠️ Obvious Failure Mode

The default reaction to a stockout is to increase the average order quantity. However, stockouts are rarely caused by order size; they are driven by demand variability during the lead time and delays in supplier delivery.

📐 Formulation Framework

Safety Stock Optimization, Inventory Policy Design mathematical optimization with explicit operational constraints.

🎛️ 02 · Interactive Parameter Simulator
Probabilistic Inventory Policy

Dynamic Reorder Point (ROP) & Stockout Breach

Determines the exact stock trigger point where a purchase order must be fired to avoid running out of stock before delivery.

📐Mathematical Formulation#012 Model
ROP = (Mean Demand · Lead Time) + (Z_α · σ_d · √L)
d̄ · LExpected Lead-Time Demand: Average units consumed while waiting for shipment
Z_αService Level Z-Score: Normal distribution coverage multiplier
σ_d · √LLead-Time Demand Volatility: Standard deviation of demand over lead duration L
#012 Buffer Sensitivity67% Service Fill
Buffer: 60u
⚠ 2 Stockout PeriodsLead Time: 12d
SAFETY BUFFER:+15 units
TOTAL STOCK:60 units
⚖️ 03 · Key Tradeoffs & Constraints

Decisions that Govern Execution

#1Safety Stock Level: How much buffer inventory should we maintain?

#2Reorder Point: At what exact inventory level should we trigger a replenishment order?

📋 04 · Step-by-Step Diagnostic Playbook

Execution Sequence for Operators

1

Track standard deviation of demand and supplier lead times separately.

2

Formulate safety stock using statistical service factor calculations based on target fill rates (e.g. 95% vs 99%).

3

Set automated reorder alerts in the ERP when stock crosses the reorder point (demand * lead time + safety stock).

4

Establish secondary sourcing contracts to buffer high-lead-time items.

🗄️ 05 · Data Requirements & Schema

Required Telemetry Feeds

FieldTypePurpose
Daily Sales VelocityQuantity per dayDetermines normal consumption rate.
Supplier Lead Time LogsDates: Placed vs ReceivedCalculates average and standard deviation of delivery time.
📊 06 · Key Performance Indicators

Diagnostic Scoreboard & Formulas

MetricMathematical FormulaInterpretation
Service Level (OTIF)Delivered Orders / Total Placed OrdersMeasures customer service compliance.
Days of Inventory CoverOn-Hand Inventory / Average Daily DemandIndicates how long the current stock will last.
📚 07 · Canonical References

Foundational Literature

Factory Physics
Wallace J. Hopp and Mark L. Spearman
FIELD NOTEBOOK DISPATCH

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