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
After completion of this course the students are expected to be able to:
- Formulate strategic network design models
- Understand inventory planning systems, modeling approaches, and trade-offs among parameters and how they affect decision making
- Derive and formulate the given inventory-related problems for different scenarios
- Interpret results, draw conclusion, and give managerial insights
Attendance is required and evaluated per class. Absence with valid reason is permitted.
Lectures, Assignments, Short-Cases
In total, 100 points can be reached. They assemble as follows:
Individual assignments incl. class participation: 20
Group assignments (max. 2 persons): 30
Final exam (individual): 50
At the final exam a minimum of 20 points (out of 50) has to be reached in order to pass the course.
- Excellent (1) from 90
- Good (2) from 80
- Satisfactory (3) from 70
- Sufficient (4) from 60
Further details will be discussed in the opening session!
According to §3, paragraph 9 of WU's "Examination Guideline" the following rule applies:
If a student does not attend the first session of this course (ill-founded and without written notice of his/her absence), he/she will be signed off from this course. The next attending student on the waiting list receives the now available place.
It is not possible to increase the number of participating students over the maximum capacity.
Anytime via e-mail or teams chat; firstname.lastname@example.org
On a mutually agreed time slot for meetings in person.