Just notes

Niu will have finals on operation management course tomorrow. Just some notes/stories he shared with me along the course.

  •  Benihana
    • founded in 1960′
    • Aoki, a wrestler who had qualified for but did not attend the 1960 Summer Olympics, started the restaurant with $10,000 earned from driving an ice cream truck in Harlem. The first restaurant, Benihana of Tokyo, was named for the red Safflower that was the name for the coffee shop owned by his parents in Tokyo
    • Believe Americans weigh presentation more than the taste
  • Zara
    • Core culture: fast response; fast fashion
    • No warehouse outside Spain
    • Fast turnover rate
    • Tremendous number of items on the catalog; Store managers have power/freedom/incentive to choose supplies
  • OR theory about the amount of supply
    • Service level: probability that customers come and are able to supply
    • underage: the amount/cost in case of short of supply
    • overage: the amount/cost in case of over supply
    • the optimal service level is underage/(underage + overage)
    • the desired supply/storage can be calculated as inverse CDF of the optimal service level

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