The main aim of this course is to introduce the components of an inventory system and the principles of inventory management. The students will learn to analyze the inventory problems in the context of supply chain systems and use statistical modeling to model and solve these problems. Many cases will be discussed and analyzed.
Upon succesful completion of this course, a student will be able to
1. Discover inventory management, its importance for competitive advantage
2. Define the importance of information collection, analysis and sharing
3. Identify the inventory problems in a supply chain and importance of global optimization
4. Develop the ability to apply statistical modeling for real life problems
5. Assess the importance of information systems and software usage for competitiveness