Duration: 3 hours for 13 weeks [ECTS: 6]

Course description

Two-stage supply chains with deterministic and random demand, the method of economic order quantity with constant demand, the order-up-to (OUT) level policy of replenishing the target inventory level with random demand data, the methods of moving averages and exponential smoothing to forecast retailer and supplier demand, use of ARIMA (p,d,q) to model demand at various stages of supply chains, Supply Chain Reengineering Programs, Information sharing programs, Continuous Replenishment Programs (CRP), Vendor Managed Inventory Programs (VMI), Time evolution of retailer and supplier orders under alternative information sharing scenarios, The Bullwhip ratio and its determinants, Average on-hand inventory levels and shortage costs, Retailer and supplier benefits in information sharing programs.

Learning outcomes

By the end of this course, students will be able to:

1. Apply minimum mean squared error forecasting techniques for demand at the various stages of supply chains,
2. Determine the order quantity at each stage of supply chains using the target inventory level replenishment policy,
3. Assess the operation of supply chains by balancing holding and shortage costs against achieving the desired level of customer service,
4. Propose alternative supply chain redesign programs.