Production and Inventory Analysis of PS Foods

PS Food & Beverage (S) Pte. Ltd is a company that produces drink products. Their products are produced in Malaysia and delivered to schools and NTUC outlets in Singapore. As of now, they predict the demand for every month and order ahead in advance of demand. As such, our team is assigned the task to identify if their current method of prediction works and if not, what are the alternative methods could be available. We chose one of their products, chocolate milk, to do our analysis on. We plan on using the Modified Newsvendor Model and (Q, r) Model to analyse the data, and compare between the two models and ideally pick the best one. Also, we did t-tests and regression analysis on the data provided for further analysis.