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Lecturer
Dates & Places
- Friday 09:45-13:00 HS 7,
- Starting on 9 October, 2015
Secretary
Alexandra Ederer
Language of Instruction
- English
Course Descripton
- This course focuses on inventory management under uncertainty. Standard
inventory control models and approaches are presented for multi-period
dynamic inventory models, multi-echelon models, and multi-product
coordinated replenishment problems. Further, different approaches to
data driven inventory policies are presented that address the
availability of data and the estimation of model parameters. Several
case studies are used to apply these concepts.
OverviewThe module enables the student to understand the major trade-offs of
inventory decisions and to use data driven methods to recommend and
implement modern inventory management concepts to practical problems. The course consists of lectures that introduce inventory modelling
techniques and challenging problems and exercises where computer
programs are used to determine inventory control parameters. The course
requires basis knowledge in statistics (discrete and continuous
probability distributions) and Excel.Evaluation- A total of 100% can be obtained by:
- - homework assignments (20%; students MUST be present in class and prepared to present the exercises in class upon request)
- - a written midterm exam (35%; no course material allowed)
- - a written final exam (45%; no course material allowed)
Literature- Cachon, G., Terwiesch, C. (2009), Matching Supply with Demand, 3rd edition, McGraw-Hill
- Tempelmeier (2008), Material Logistik, 7. Auflage, Springer
- - Nahmias (2009), Production and Operations Analysis, 6th ed., Mc. Graw Hill
- - Silver, E.A., Pyke, D.F., Peterson, R. (1998), Inventory
Management and Production Planning and Scheduling, 3rd edition, Wiley.
Course Materials
...available on the Moodle e-learning platform.
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