Postgraduate Course: Inventory Analytics (CMSE11350)
Course Outline
| School | Business School |
College | College of Humanities and Social Science |
| Credit level (Normal year taken) | SCQF Level 11 (Postgraduate) |
Availability | Not available to visiting students |
| SCQF Credits | 15 |
ECTS Credits | 7.5 |
| Summary | This is an option course for the Operations & Supply Chain Analytics Pathway of the MSc in Business Analytics. The course will provide students with the foundations of inventory management in supply chains and shall cover concepts, applications, mathematical modelling, and design of solutions. |
| Course description |
Inventory management represents a central activity in manufacturing and distribution across the supply chain. Being able to forecast customer's demand, to decide when to order/produce and how much to order/produce, where to locate inventories, etc. are essential skills for operations and supply chain managers. This course aims at training students in the field of inventory analytics to respond to the job market needs using a variety of methodologies. To be more specific, this course covers descriptive, predictive, and prescriptive analytics techniques in production and distribution planning and scheduling.
The objective of this course is to enhance students¿ understanding of the importance of properly managing inventories across the supply chain and to provide them with a variety of modelling and analysis techniques commonly used by both academics and practitioners along with hands-on experience in using them. The course provides opportunities for students to learn from each other, from practitioners in the field, and from the latest theoretical and applied research in the field. The course will require students to work in groups on realistic projects in different business settings involving inventory modelling and analysis, and to present their work to the rest of the class and to an external panel when the projects are supplied by industry.
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Entry Requirements (not applicable to Visiting Students)
| Pre-requisites |
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Co-requisites | |
| Prohibited Combinations | |
Other requirements | None |
Course Delivery Information
| Not being delivered |
Learning Outcomes
On completion of this course, the student will be able to:
- Discuss the concept and methods of inventory management using the proper terminology
- Identify and properly state research problems related to single and multi-stage production systems and single and multi-echelon distribution systems
- Choose the right models for an inventory modelling and analysis exercise, implement them, and compare the performance of different models empirically
- Formulate managerial guidelines and make recommendations
- Communicate a solution to an inventory problem effectively and efficiently to a critical audience
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Reading List
SUGGESTION:
S. Axsäter (2010). Inventory Control (International Series in Operations Research & Management Science). Springer, 2nd ed. edn.
Recommended Reading
TO BE CONFIRMED BY ACTUAL LECTURER & COURSE ORGANISER
SUGGESTION:
E. A. Silver, et al. (1998). Inventory Management and Production Planning and Scheduling, 3rd Edition. Wiley, 3 edn.
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Additional Information
| Graduate Attributes and Skills |
Not entered |
| Keywords | BA-IA |
Contacts
| Course organiser | Dr Roberto Rossi
Tel: (0131 6)51 5239
Email: Roberto.Rossi@ed.ac.uk |
Course secretary | Mr Peter Newcombe
Tel: (0131 6)51 3013
Email: Peter.Newcombe@ed.ac.uk |
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