Faculty of Business, Economics and Statistics

Department of Business Administration

Chair of Production and Operations Management
(Lehrstuhl für Produktion und Logistik)
o. Univ.-Prof. Dipl.-Ing. Dr. Richard F. Hartl

 040668 KFK PM/SCM/TL: 

 Inventory Management (E)
8 ECTS points

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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.

      Overview

      The 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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