This course covers three planning hierarchies: tactic and operational planning problems in inventory management, and strategic network planning. It focuses on identifying the most relevant information needed to assist decision making related to supply chain planning in a continuous environment. Students are exposed to concepts and models important in inventory planning with emphasis on practically relevant trade-offs and phenomena. The following topics are discussed:
- Strategic network design
- Single-period inventory modeling: The Newsvendor framework
- Two extensions of the Newsvendor
- Reactive capacity (Dual sourcing model)
- Supply chain coordination
- Multi-period inventory modeling (Replenishment Policies)
- Periodic review and base stock policy
- Continuous review and fix order quantity policy
- Inventory Pooling effects