Explore the fundamentals of inventory management, as well as the state-of-the-art models used in industry. Offered in collaboration with Rice’s George R. Brown School of Engineering, this two-day course, which offers participants the opportunity to attend in person or online, is applicable to the Certificate of Completion in Supply Chain Analytics or the Certificate of Completion in Advanced Data Analytics.
Master your inventory with this fluid course on inventory optimization using Excel-based (statistical) tools. Topics in this course include the economic order quantity model, dynamic lot sizing, statistical inventory models, bullwhip effect, and inventory positioning and logistics coordination in supply chains. In addition, using the tools discussed in this course, you are able to perform cycle stock, safety stock, and service level calculations, and account for uncertain demands and backlogging. The format of this course includes lectures and problem-solving sessions. Basic probability and statistics experience is required.
- Professionals or managers in manufacturing or operations based businesses
- Professionals or managers in high volume healthcare systems
- Professionals or managers in refineries and chemical processing plants
- Professionals or managers in oilfield services
- Professionals or managers in logistics, supply chain or scheduling
Basic Microsoft Excel capabilities are required for this offering.
Applies Towards the Following Certificates
- Rice Data Analytics Certificate Programs : Advanced Data Analytics Course