Programs

Although the theoretical basis of inventory management and production planning are sound and widely covered in management literature, it is surprising to realize the limited application these theories have had in industry. The current development of computing tools such as spreadsheets gives an opportunity for practitioners to bridge this gap. This course will explain the different aspects of inventory management and production planning in a  spreadsheet application environment.

Course Outlines:

• Importance of inventory management and production planning
• Forecasting
• Traditional replenishment systems for single items inventories
• Lot sizing for individual items with time-varying demand
• Individual item with probabilistic demand
• Multiple items and multiple locations inventory management
• Medium range aggregate planning
• Material requirements planning and extensions
• Sort-term production scheduling

The course will be conducted as a series of lectures, discussions and case studies. Spreadsheet applications will be explained in comprehensive tutorials using MS Excel 2000®.