Course Description

This course examines concepts related to inventory management and production planning. In inventory management, we take an in-depth look at topics such as forecasting, lot sizing, safety stock determination and distribution requirement planning. In production planning the topics are: sales and operations planning, material requirement planning, capacity planning, scheduling, and repetitive manufacturing and just in time. SAP enterprise resource planning system ECC 6.0 is used extensively in the course to highlight concepts. The course also highlights optimization approaches related to joint ordering, newsvendor problem, economic lot scheduling problem, Wagner-Whitin algorithm and mixed integer programming models of aggregate production planning.