Supply Chains for Manufacturing: Inventory Analytics

Course 4 of 8: Principles of Manufacturing 9 weeks total 10 - 12 hours per week
1915

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About this course

A supply chain entails two or more parties that are linked together by material, information and money flows. The management of a supply chain attempts to coordinate the activities of the parties so that merchandise is produced and distributed at the right quantities, to the right locations, and at the right time, in order to minimize system-wide costs while satisfying service level requirements.

As part of the Principles of Manufacturing MicroMasters program, this course will expose learners to concepts and models important in supply chain and manufacturing system planning,so that you canbettercoordinatevarious resources and assets to optimize the delivery of goods, with an emphasis on key tradeoffs and phenomena. There will be a particular emphasis on how to cope with variability as it arises across a supply chain. The course will introduce a set of operational tactics for dealing with supply chain variability, including:

  • Risk pooling
  • Inventory placement
  • Integrated planning and collaboration
  • Information sharing
  • Delayed differentation
  • Dual sourcing
  • Smoothing

Lectures, computer exercises, and case discussions introduce various models and methods for supply chain analysis and optimization.

Develop the engineering and management skills needed for competence and competitiveness in today’s manufacturing industry with the Principles of Manufacturing MicroMasters Credential, designed and delivered by MIT’s #1-ranked Mechanical Engineering departmentin the world. Learners who pass the 8 courses in the program earn the MicroMasters Credential and qualify to apply to gain credit for MIT’s Master of Engineering in Advanced Manufacturing & Design program.

 

What you’ll learn

  • Concepts and models for effective supply chain and manufacturing system planning
  • Operational tactics for managing variability
  • Integrated planning and collaboration

Prerequisites

Graduate-level Introduction to Logistics Systems or Operations Management

Frequently asked questions

For more information, please see the POM FAQ Page.

Who can take this course?

Unfortunately, learners from one or more of the following countries or regions will not be able to register for this course: Iran, Cuba and the Crimea region of Ukraine. While edX has sought licenses from the U.S. Office of Foreign Assets Control (OFAC) to offer our courses to learners in these countries and regions, the licenses we have received are not broad enough to allow us to offer this course in all locations. EdX truly regrets that U.S. sanctions prevent us from offering all of our courses to everyone, no matter where they live.

Meet your instructors

Stephen Graves

Abraham J. Siegel Professor of Management at Massachusetts Institute of Technology Stephen Graves is the Abraham J. Siegel Professor of Management and a Professor of Operations Management at the MIT Sloan School of Management. He has a joint appoitnemnt with the MIT Department of Mechanical Engineering. Graves develops and applies operations research models and methods to solve problems in manufacturing and distribution systems and in service operations. Graves holds an AB in mathematics and social sciences and an MBA from Dartmouth College, and an MS and a PhD from the University of Rochester.

Sean Willems

Haslam Chair in Supply Chain Analytics at University of Tennessee Sean Willems is the Haslam Chair in Supply Chain Analytics at the University of Tennessee's Haslam College of Business. In 2000, he co-founded Optiant, a provider of multi-echelon inventory optimization tools, which was later acquired by Logility, Inc. He has been a visiting professor of operations management at the MIT Sloan School of Management since 2016. His work with companies such as Hewlett Packard, Proctor & Gamble, and Intel has led to finalist selections for the 2003, 2010, and 2017 Franz Edelman Award for Achievement in Operations Research and the Management Sciences.
1915

Experience Level

Advanced

Learning Partner

Massachusetts Institute of Technology

Program Type

MicroMasters®

Subject

Business & Management Data Analysis & Statistics