Four managers describe the same pile of stock on the same Monday morning. Four different numbers come back.
Service levels, safety stock and what a supplier’s reliability is worth, on one part number from start to finish.
Julian R. Sterling
These are the companion files of Supply Chain Management by Julian R. Sterling.The book on Amazon →
The four workbooks that produced every figure in the book, rechecked from scratch. Around them: the same models with the inputs emptied, twelve working documents to print, forty questions that mark themselves, and three cases the book names and never takes to a number. No sign-up, no email address, nothing locked. One company, Aldermere Filtration, and one part number, AF-7; blue cells are the only inputs, everything else is a formula.
The four workbooks
The book’s own files. Every figure in them was recomputed outside the workbooks in September 2026, and every one held; the files are unchanged. Two sentences of the book did not, and are corrected below.
Workbook 1 · Chapters 1 to 5
Demand, Lead Time and Variance
Demand during lead time for part AF-7, and where its variance comes from: 9.4845 per cent from the market, 90.5155 per cent from the supplier’s lead time. Also the 79 receipts it takes to know the lead-time standard deviation to plus or minus 0.3 weeks. Rechecked: 9 checks, all OK.
The service level table and the fill-rate solver: a cycle service level of 98 per cent is a fill rate of 99.3846 per cent. The three policies priced in euros, including the 18,490.12 EUR a year the board’s proposal costs, and how flat the cost curve is around its minimum. Rechecked: 88 checks, all OK. Chapter 11 says the batch and the service level should strictly be set together and that an appendix prices it; none did. Set together, the batch rises to 5,840.71 units and the year costs 683.37 EUR less (case two).
The lead-time table from 0.0 to 3.0 weeks, and what reliability is worth: 24,154.77 EUR a year for taking the standard deviation from 1.9 weeks to 0.5, 3.90 times the value of the dispute. The price per unit you can offer the supplier for it. Rechecked: 52 checks, all OK. The 0.2525 EUR is the simple division; with the premium also carried on every unit held, the exact break-even is 0.2512 (case three).
Four depots against one central warehouse, forecast bias from minus 10 to plus 10 per cent, and the holding rate from 8.0 to 25.0 per cent. Four depots tie up 91,485.19 EUR more stock and 8,401.59 EUR a year more orders; a 10 per cent under-forecast costs 8,952.25 EUR a year, a 10 per cent over-forecast earns 2,168.93. Rechecked: 54 checks, all OK.
Twelve workbooks (the four of the book, their blank twins, the three cases and the question book), the printable
documents, the read-me and the start-here file. The four workbooks end on a Checks sheet that puts every printed figure beside the live formula: 203 checks, all OK.
No macros, no external links. Each group below can also be downloaded on its own. Last revised 24 September 2026.
Get an email if these files are corrected
Optional. When a workbook on this page is corrected or a new worked case goes up, readers on the list get one email, plus a short note when a new book comes out. The downloads do not need it.
The four workbooks with every blue input emptied. The Checks sheets count what is still missing and test what holds for any inputs.
Chapters 1 to 15
Your demand, your supplier, your holding rate
The same formulas, every input empty: the thirteen quantities of the Assumptions sheet, the precision you want on the lead-time spread, the fill-rate target, the reliability target and horizon, the number of depots. An incomplete sheet stays empty rather than showing a wrong number. The sensitivity axes (service levels, lead-time spreads, biases, holding rates) stay: they are steps, not data.
The book’s inputs are listed in a text file inside the archive. Type them back in and its figures come back: 90.5155 per cent of the variance from the supplier, a fill rate of 99.3846 per cent, 24,154.77 EUR a year for a regular supplier, 91,485.19 EUR for four depots.
Blank_Model_Set.zip · four XLSX files and the book’s inputs
The documents the chapters describe
Twelve pages to print and use. A4, with margins wide enough for US Letter.
Chapters 1 to 15 · Appendices A to C
Twelve working documents
The agreed list of nine quantities, with source and owner. The holding rate built from its four components, with its sensitivity row. Lead time measured from goods receipts. The variance split. The service level translation table, the one document that ends the argument. The total cost test for any stocking proposal. The optimum on one line. The supplier regularity case on one page, and the regularity clause as a term sheet. The network test. The bias control. The Monday plan with the assumptions register.
A workbook that marks itself. Answer in the yellow cells; the marking fills in as you go.
All parts of the book
Forty questions on the book
Seven on demand, lead time and the variance split, seven on the batch and the readings of service, seven on the money, seven on the supplier lever, six on depots and bias, and six on the three cases below. Numbers are marked to a tolerance, multiple choice to the letter, and the score sheet counts your errors part by part: that is your revision list.
Nothing is hidden. The marking sheet holds every answer, every tolerance, and the reason for each answer.
New material, not a restatement. Three situations the chapters name and never take to a number. Each case is one workbook: the note is the first sheet, the model is the rest, and a checks sheet closes it. Type your own figures in and every finding recomputes.
Chapter 14 · Case one
The four depots, counted on both legs
Chapter 14 counts the depots’ extra stock and orders, never their annual cost, and never the shortages the extra buffer prevents: Chapter 15’s own lesson. Counted as the chapter counts, 20,660.60 EUR a year; with the shortage leg, 15,838.27. At the same fill rate as the warehouse the depots need a cycle service level of 96.70 per cent and only 109.00 more units of safety stock, not 1,006.53: 65,815.76 EUR of extra inventory, not 91,485.19, and 17,220.90 EUR a year. With the supplier at 0.5 weeks, four depots cost 318.44 EUR a year less than one warehouse today.
Chapter 11 · Case two
The batch and the service level, set together
The refinement Chapter 11 names and does not perform. Set jointly, the batch is 5,840.71 units, 33.2 per cent above the economic order quantity, the cycle service level 98.7622 per cent, and the year costs 683.37 EUR less: inside the flat floor, as the chapter says, but the field that moves is the batch. With both states re-optimised, the supplier lever is worth 22,269.56 EUR a year, 3.59 times the dispute instead of 3.90.
Chapter 13 · Case three
The premium, carried into the stock
The premium also sits in every unit held and comes off every unit lost: the exact break-even is 0.2512 EUR, and at 0.2525 Aldermere is 116.49 EUR a year worse off. The row premiums the chapter describes and does not print: 0.0783 at 1.5 weeks, 0.1715 at 1.0. A flat premium at half the break-even (ADDED) loses 12,109.39 EUR a year if the supplier does not move; a schedule on the spread achieved never loses. Paid up front, the three-year ceiling is 62,929.32 EUR, not 72,464.30.
in euros; Aldermere Filtration, part AF-7 and every figure attached to them are fictional
Time
weeks throughout, 52 to the year; demand and lead time in the same grain
Service level
the cycle service level unless the fill rate is named; the batch is the economic order quantity unless stated
Blue cells
the inputs in the book’s workbooks; amber cells in the cases; every other number is a formula
ADDED
a figure the book does not give, used in the cases and marked wherever it appears
What changed, and when
24 Sep 2026
Every figure in the four workbooks recomputed independently: all hold, the files are unchanged, 203 checks all OK. Corrected in the book: Chapter 13’s “exactly as well off” at 0.2525 EUR a unit (116.49 EUR a year short; the exact break-even is 0.2512); Chapter 11’s pointer to an appendix that was to price the joint setting of batch and service level (now priced: 683.37 EUR a year). Added: a blank set, twelve working documents, forty questions that mark themselves, and three cases.
How do you calculate EOQ with quantity discounts?Price each break at its EOQ or minimum quantity, add purchase cost, take the lowest total. For AF-7, 0.5% off at 8,000 saves 10,628 a year; 1% at 20,000 only 4,385.
How do you calculate inventory carrying cost?Average stock at cost times a holding rate of capital, storage, obsolescence and insurance: 278,534 EUR at 13.4 per cent is 37,324 EUR a year for part AF-7.
How do you calculate the bullwhip effect?Bullwhip ratio = variance of orders / variance of demand. A 4-week moving average and 7 weeks of cover give 10.6, so orders swing 3.26 times as much as sales.
How do you calculate the number of kanban cards?N = (demand x lead time + safety stock) / container. At 480 a day, 0.75 day and 40 units, a 10% factor gives 10 cards and 68.5% service; 95% needs 13.
Also by Julian R. Sterling
The other books with companion files. The full list of titles is on the
author page.
Credit AnalysisOne borrower, four defensible EBITDAs, and the add-back argument worth fifty times the covenant headroom.
Closing the DealTwo defensible bridges 20.70 million apart, a peg worth 7.00 million, and the six choices that remove 6.60 of a 12.00 earn-out.
CMBS and CRE CLOsWhere the loss actually lands, from appraisal reduction to realised severity, and what the B-piece is really being paid for.
How to Read a Commercial LeaseThe three refinements chapter 19 names and never performs, and the renewal rate below which the mark-to-market is worth nothing.
How to Read a Credit AgreementWhere the default actually comes from, the cure that costs 5.5 times the other, and the capacity nobody adds up.
How to Read a Real Estate Loan AgreementThe cure ratio in closed form, the four-point window in which the cheap cure works, and the cure sized to the wrong threshold.
Office Real EstateA six per cent yield that returns 3.2 per cent once the re-letting cycle is paid for, and the headline-to-net-effective rent arithmetic.
Private Equity Real EstateBoth worked waterfalls to the dollar, the two capital stacks, and the arithmetic of the promote made changeable.
Private Markets PerformanceThirty-one of the thirty-three figures chapter 19 publishes reproduce exactly — and the two that do not are named rather than quietly adopted.
Raising a Real Estate FundThe chapter 17 funnel run on a calendar — when the first close actually lands, and why more travel does not help.
Real Estate FinanceFour people look at one building and reach four numbers; the lender is whole only above 105,109,489, twelve per cent below today’s value rather than forty.
Real Estate Financial ModelingProperty, development and fund models built line by line, and the modelling test worked end to end.
Real Estate Fund ManagementThe waterfall of 6.11, the build-to-core of 8.7 and the proceeds gap, reproduced as live formulas rather than asserted.
REIT Analysis and ValuationFFO of 532.0, AFFO of 381.0, net asset value and dividend safety — every figure a formula you can change.
Retail Real EstateThe occupancy cost of every unit in a centre, the sixteen per cent of the rent roll no tenant can sustain, and the right-size-convert-or-hold decision priced.
Sale and LeasebackA €179.5 million transaction end to end, with rent cover measured on the entity that actually signs the lease.
Self-Storage Real EstateThe cohort engine behind a 590-unit store, and the rate increase on existing customers priced against the move-outs it causes.
The Fund Finance ProfessionalChapter 8 builds the reported-to-eligible NAV bridge; chapter 9 computes every ratio without it. Two points at every state — and what a subscription line does to the IRR.
The Growth Equity InvestorWhat a pro rata cheque really costs, and the band where defending your ownership loses money.
The Private Credit InvestorThe two coverage ratios are not measured on the same thing: the erosion is 47.7 per cent, not the 28.7 the headline implies.
The Private Equity Fund Controller PlaybookThe book defines IRR, DPI, RVPI and TVPI, tells you to update them at the exit, and prints not one value. Computed: a 1.833× deal inside a fund at 0.892 TVPI.
The Venture Capital AssociateWhat defending a position costs, and how many companies a reserve pool actually defends.
Financial Risk ManagementA fund inside every limit that cannot meet a redemption — and the number that decides it is the one with no currency attached.
Business ValuationThree advisers land 26.8 per cent apart on one company, and the whole gap turns out to be 1.96 points of perpetual growth.
Quantitative FinanceThree models agree to a quarter of one per cent about a number that one unobservable input moves a hundred and three times as much.
Asset ManagementFour people quote four returns for one mandate, all correct and 2.7017 points apart — forty-eight times the manager’s net skill.
Alternative InvestmentsA manager reports 13.29 per cent and the endowment earns 6.26 — both correct, and only a third of the advertised advantage arrives.
Venture CapitalOne company out of twenty-eight returns 56.7 per cent of the fund, and half the capital goes in after the decision — at half the return.
Machine Learning for FinanceFive people quote the accuracy of one credit model, all five are right, and the number that decides how much money it makes is none of them.
Commercial Real Estate InvestingThe equity earned 8.6647 per cent and the investor received exactly 8.0000 — the preferred return, and nothing above it.
Mergers and AcquisitionsThe board paper says the deal creates 13,436,667 of value. The arithmetic says it destroys 17,530,855. Nobody is lying.
DerivativesThe treasury report says the hedge cost 1,233,698. That is the interest differential, not a cost.
Treasury ManagementFive cash balances for one company, all correct and 145,600,000 apart — and the revolver that is two-thirds of the liquidity leaves at a revenue fall of 8.4127 per cent.
Financial Planning and AnalysisRevenue 3.0190 per cent above budget and operating profit 16.3209 per cent below it, in the same quarter, with every figure correctly stated.
Energy TradingA position report that is 91.7031 per cent hedged and correctly computed, on a book that is short 2,542,000 MWh — and a margin call of 198,400,000 the next morning.
Construction Cost ControlA contract sum of 26,301,102 became a final account of 29,153,363 on the building that was drawn — and 85.8 per cent of what was lost was knowable on the day it was signed.
Trade FinanceSix routes to payment on one 4,200,000 export order cost between 178,040 and 223,268, a spread worth 14.8 per cent of the margin, and a day of buyer credit costs 1,031.76.
Cost AccountingOne factory costed twice on the same 13,440,000 of overhead, and 4,053,091 moves between four product families.
Pricing StrategyA list price of 148.00, a pocket price of 112.51, and the nine deductions in between — with what one point of price is actually worth.
Contract ManagementA bid 5.50 a unit cheaper, signed on paper worth 9.81 a unit more — and 94.68 per cent of it was knowable on the day of signature.
Capital MarketsFour defensible readings of one bond, the cost of an issue under each convention, and the placement discount computed at a constant discount.
Financial RegulationThree ratios pass and the fourth is in breach by 1,956.0 million: the output floor, the liquidity buffer after encumbrance, and the loan split.
Bank ManagementFour defensible readings of one balance sheet, the deposit beta measured two ways, and the liquidity that lasts 3.9 days.
The Real Estate WorkoutFour ways out of one broken loan, discounted to today, and the 58.7 cents at which a payoff beats enforcement.
Go beyond the companion files
Supply Chain Management develops the complete framework behind these models, with the assumptions, trade-offs and worked examples tied together.
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