Demand and supply planning (DSP): after successful completion of this part, the student is able to:
- select the most appropriate techniques for the short-term demand forecasting and apply them to a data set
- plan the various required activities in a supply chain on an aggregate level using quantitative models
- coordinate the sales including promotions and the operations in a supply chain using quantitative models
Inventory management (IM): after successful completion of this part, the student is able to:
- classify the various types of inventories, choose and apply the appropriate quantitative models for inventory management, and analyze the impact of key input variables
- explain at a conceptual level how the inventory management for multiple items, as well as for multiple site settings are interrelated (including the bullwhip effect)
Demand and supply planning and coordination (DSP) in supply chain
- Demand forecasting: focus on short-term forecasting methods. Differentiation between the forecasting methods of slow-moving and fast-moving items.
- Aggregate planning, and sales and operations planning and coordination in a supply chain. Note that an introduction to aggregate planning is given in TBK M2: OM. This part will be treated here in more depth
Inventory management (IM) in a supply chain
Inventory classifications ABC and functional classification. Managing uncertainty in inventory: service levels, e.g., fillrate and stockout probability, periodic/continuous review, safety stocks (including the impact of aggregation), fixed and variable lot sizes, shortage cost models, single period problems “newsboy problem”, multi-item coordination in a single site case.