WEEK 1: FORECASTING I - SEGMENTATION AND INTRODUCTION TO DEMAND FORECASTING: In this first week you will learn about the challenge of uncertainty and become comfortable with the concept of segmentation. You will also learn the fundamental concepts concerning forecasting and demand planning.
WEEK 2: FORECASTING II - TIME SERIES ANALYSIS AND EXPONENTIAL SMOOTHING: You will continue the examination of demand forecasting by becoming familiar with time-series analysis. Building on this, you will learn the basics of exponential smoothing - perhaps the most commonly used demand forecasting methodology. You will become comfortable including both level and trend into your forecasts.
WEEK 3: FORECASTING III - SEASONALITY AND SPECIAL CASES: In this week you will learn how to include seasonality (that is, a repeating pattern over a year, month, week, day, etc.) into your forecasts. It will become quickly apparent how exponential smoothing can handle this - and you will see where the complexity increases. You will also learn about some other techniques used for special cases, such as new product forecasting. This completes the demand forecasting portion of the course.
WEEK 4: INVENTORY MANAGEMENT I - DETERMINISTIC DEMAND: The inventory section opens up with the simplest inventory model: the Economic Order Quantity (EOQ). The EOQ assumes deterministic and constant demand and while this seems rather onerous, you will come to realize that the EOQ model is very useful and widely used in practice. You will learn the basics as well as how to handle special cases, such as discounts, lead times, and finite replenishment
WEEK 5: PREP-WEEK: This is a prep week in which no new graded assignments will be released. It provides you time to complete previous assignments and get ready for the Mid-Term next week.
WEEK 6: MIDTERM EXAMThe mid-term exam is a timed exam that covers all material presented to date. You have one week to complete the test.
WEEK 7: INVENTORY MANAGEMENT II - PROBABILISTIC DEMAND & SINGLE PERIOD MODELS: We now expand from our initial assumptions of deterministic and constant demand to allow for stochastic or random demand in inventory replenishment models. Starting with just a single time period, you will learn how to develop models that handle uncertain demand. You will master what is called the Newsvendor Model. While seemingly simple, you will see that it is the basis of virtually all more sophisticated inventory models.
WEEK 8: INVENTORY MANAGEMENT III - PROBABILISTIC DEMAND & MULTI-PERIOD MODELS: This week is spent developing and using the most common inventory policies in practice for both continuous (s,Q) and periodic (R,S) review situations. You will learn how to formulate models that either minimize costs or meet a specified level of service. You will also learn how service and costs relate to each other.
WEEK 9: INVENTORY MANAGEMENT IV - SPECIAL CASES AND WAREHOUSING: We will wrap up the section on inventory by showing some methods for applying these inventory models for multiple items and multiple locations at the same time. You will learn how segmentation can be used to differentiate how inventory is managed in different situations. You will also learn the basics of warehousing and material handling - the physical manifestations of all of our inventory policy models!
WEEK 10: TRANSPORTATION MANAGEMENT: This week you will focus on understanding the fundamentals of freight transportation from a global perspective. You will learn how to make routing decisions with multiple legs and demonstrate how this also applies to any mode selection. You will also learn how to handle uncertainty in lead-times and see how this relates back to inventory policies.
WEEK 11: PREP-WEEK: Again, this is a prep week in which no new graded assignments will be released. We release a set of videos that discuss some real-world implications and concerns involved with all of the models we have discussed so far. This is a very very light week - so you can get prepared for the Final Exam!
WEEK 12: FINAL EXAM: The final exam is a timed exam that covers all material presented to date. You have one week to complete the test.