Course Code & Number
IE 414
Course Title
Inventory Planning Problems
Credit Hours/ ECTS Credits
(3+0+0) 3 TEDU Credits, 5 ECTS Credits
Mode of Delivery:
Face-to-face
Language of Instruction:
English
Pre-requisite / Co-requisite:
Pre-requisites: MATH 230
Co-requisites: NONE
Catalog Description
Economic Order Quantity model and extensions. Inventory control policies for stochastic demand. Joint replenishment problem. Introduction to multi-echelon inventory problems.
Course Objectives
The goals of this course are to teach modeling and analysis of advanced deterministic and stochastic inventory control problems including multi-item and multi-echelon problems. The course also aims to expose students to the complex inventory problems of real life applications and teach them how to tackle with these problems with creative and critical thinking. The students are also engaged in self-learning in an advanced topic of inventory planning problems.
Course Learning Outcomes
Upon succesful completion of this course, a student will be able to
1. Construct models for deterministic and stochastic inventory planning problems (B5, c)
2. Optimize models developed to meet desired needs (B5, c)
3. Choose and defend the best policy suitable for a given environment (B6, c)
4. Interpret and criticize inventory control practices adopted for complex contemporary problems of manufacturing and service systems (B6, h)
5. Recognize the need of and engage in life-long learning (i)
Learning Activities and Teaching Methods:
Telling/Explaining
Discussion/Debate
Reading
Case Study/Scenarion Analysis
Simulation & Games
Assessment Methods and Criteria:
Test / Exam
Quiz
Case Studies / Homework
Assessment Methods and Criteria Others:
Recommended Reading
Silver, E.A., D.F. Pyke, and R.Peterson (1998), Inventory Management and Production Planning and Scheduling, John Wiley & Sons
Required Reading
Axsater, S. (2006), Inventory Control, Kluwer Academic Publishers
Learning Activities and Teaching Methods Others:
Course & Program Learning Outcome Matching:
