Monte Carlo Simulation Help

Hi everyone,

I'm having some trouble with running a Monte Carlo simulation. I'm at a complete loss on where I should go next. The situation is a variable supply and demand based on a randbetween function. However, the simulation is representing a business where if demand for services > supply of services, the excess demand for services is carried over to be completed if/when the supply is high enough to accommodate the additional work. I've worked on it for a few hours, trying different formulas but I can't seem to get anywhere. It's an assignment for a class, so I'm not looking to have you all do my homework for me, but just give me an idea or thought on where I should go next.

I've attached a spreadsheet of what I'm working on.

mrice,

I've tried to do an IF function, but i've run into difficulty with that. I have the corresponding demand from the random number vlookup table, and then a column for a total demand that includes an IF function for if there is excess demand from the previous week. However, i cant seem to get it to consider that the demand might carry over for several weeks if the supply is not high enough

That worked, thank you for your help!

Any advice on how to approach this same problem if the situation were to change and we were dealing with perishable items that can only be held for a week?

Originally Posted by taylorh

Any advice on how to approach this same problem if the situation were to change and we were dealing with perishable items that can only be held for a week?

I think you'll need to be a lot more specific than that.

Okay, sorry, let me be clearer.

In the situation I described earlier, the excess demand for services was being carried over (for example, a doctor's appointment). In this new situation, the demand for a perishable good is being carried over for one week (say, a loaf of bread). It's different because the loaf of bread can't be carried over indefinitely until there is enough supply. How would the equation for this new situation be different from the initial situation?