Learn Inventory Management with Python - Tutorial Supply Chain Analytics
Learn how to build a powerful inventory simulation model that can save thousands of dollars in inventory costs!
💻 Resources & Code:
Learn the basics of supply chain in 5 minutes videos: • Study Supply Chain Processes in 5 min
GitHub Repository: https://github.com/samirsaci/tuto_inv...
Article Series: https://www.samirsaci.com/tag/invento...
👉 Find more examples in this cheat sheet: https://bit.ly/supply-chain-cheat
In this comprehensive tutorial, we'll create a Python-based system to optimise inventory decisions for supply chain operations for retail.
🎯 What You'll Learn:
✅ Build a complete inventory simulation model from scratch
✅ Visualise inventory levels with professional charts
✅ Understand the impact of lead time on stockouts
✅ Calculate the Economic Order Quantity (EOQ)
✅ Compare different replenishment strategies
✅ Discover why timing beats quantity in inventory management
📈 Real Business Impact:
This model helps retail chains minimise three critical costs:
Ordering costs (administrative, system maintenance)
Holding costs (storage, insurance, capital)
Shortage costs (lost sales, customer dissatisfaction)
⏱️ TIMESTAMPS:
00:00 Introduction - The Inventory Management Challenge
00:58 Final Results - Inventory Simulation
05:30 Setting Up the Python Environment
06:00 Building the Data Model with Pydantic
13:30 Initiate the Jupyter Notebook
19:02 Creating the Simulation Engine
35:24 Scenario 1: Perfect World (Lead Time = 1 Day)
46:30 Building the visuals
54:10 Scenario 2: The Stockout Problem (Lead Time = 2 Days)
54:20 Scenario 3: The Wrong Solution (Increasing Quantity)
56:20 Scenario 4: The Smart Solution (Lead-Time-Aware Ordering)
01:05:20 Scenario 5: Economic Order Quantity (EOQ) Model
01:13:10 Scenario 6: Preview of Stochastic Demand
01:19:50 Conclusion
📚 Prerequisites:
Basic Python knowledge
Familiarity with pandas and matplotlib
No supply chain background required!
📝 Key Concepts Covered:
Deterministic vs Stochastic Demand
Lead Time Management
Safety Stock Calculations
Reorder Point Optimisation
Sawtooth Inventory Patterns
Total Relevant Cost (TRC)
Fixed-Cycle Replenishment
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