M
MACRE0
Mike,
Thanks for the reply and for the addins. I would like to simply us
probabilies from which to randomly select from, so the RANDDISCRET
function you spoke of seems like what I'm looking for. Could yo
however explain how to use it? I have as you discribe 2 adjacen
columns, the first with the name of a product and in the second th
percentage out of 100% that it occured (A1:B62). I only get #Valu
answers when I attempt to use the formula (ie =RANDDISCRETE(A1:B62) o
=RANDDISCRETE(A1:A62,B1:B62). I just don't know how to use it.
I will attept to further clarify my situation.
The problem I am endevering to solve is whether I can be 95% confiden
that the quanities of inventory I would allot to a specific loctaio
would be sufficent for an X orders per month site given a certai
replenishment rate (5 days). I figured I would randomly select 6 item
based on their statistical likelihood (figure in overlap- multipl
orders within a 5 day span) and determine what percentage of inventor
usage I failed to account for. This would be done 10,000 times.
would then adjust inventory levels until my inventory matri
consitantly passed the 95% fullfillment levels.
I simply do not want to create individual lists of inventory based upo
their respective use levels ( (the % for this one site)* 10,000). Wha
I'm trying to say is that Site 1 uses 5.00% of Product A while Site
only averages 3.50% I don't wish to make a list for Site 1 with 500 o
Product A in it then put a randon number next to it, take take th
maximum of the random numbers to determine which Product was randoml
selected. Then doing the same for Site 2. This is the solution I a
trying to avoid using. If instead your RANDDISCRETE function onl
requires the percentage for each and then selects from there that woul
be wonderful. I expect then I could have 6 of those and then see how m
matrix fairs.
Hope that's clearer.
Thanks again
Thanks for the reply and for the addins. I would like to simply us
probabilies from which to randomly select from, so the RANDDISCRET
function you spoke of seems like what I'm looking for. Could yo
however explain how to use it? I have as you discribe 2 adjacen
columns, the first with the name of a product and in the second th
percentage out of 100% that it occured (A1:B62). I only get #Valu
answers when I attempt to use the formula (ie =RANDDISCRETE(A1:B62) o
=RANDDISCRETE(A1:A62,B1:B62). I just don't know how to use it.
I will attept to further clarify my situation.
The problem I am endevering to solve is whether I can be 95% confiden
that the quanities of inventory I would allot to a specific loctaio
would be sufficent for an X orders per month site given a certai
replenishment rate (5 days). I figured I would randomly select 6 item
based on their statistical likelihood (figure in overlap- multipl
orders within a 5 day span) and determine what percentage of inventor
usage I failed to account for. This would be done 10,000 times.
would then adjust inventory levels until my inventory matri
consitantly passed the 95% fullfillment levels.
I simply do not want to create individual lists of inventory based upo
their respective use levels ( (the % for this one site)* 10,000). Wha
I'm trying to say is that Site 1 uses 5.00% of Product A while Site
only averages 3.50% I don't wish to make a list for Site 1 with 500 o
Product A in it then put a randon number next to it, take take th
maximum of the random numbers to determine which Product was randoml
selected. Then doing the same for Site 2. This is the solution I a
trying to avoid using. If instead your RANDDISCRETE function onl
requires the percentage for each and then selects from there that woul
be wonderful. I expect then I could have 6 of those and then see how m
matrix fairs.
Hope that's clearer.
Thanks again