School of Engineering and Technology, (SET)
 
AT72.09 : Inventory and Logistics Management  3(3-0)
 
Course objectives:

The objective of this course is to impart knowledge and skills necessary for effective management of inventory at single and multiple stocking points with emphasis on the inventory control models. Introduction to logistic concepts in planning and operations including purchasing and order processing, distribution network planning, and transportation is discussed.
 
Learning Outcomes:
The students on the completion of this course would be able to:
•     Analyze inventory systems and apply inventory models
•     Derive replenishment plan for material requirements planning (MRP) problem
•     Apply advanced production/inventory models
•     Solve operational problems related to logistics and supply chain management
 
Pre-requisite(s):

None
 
Course Outline:
I.        Inventory Systems
1.   Functions, Types, Properties, Backorder and Lost Sales
2.   Inventory Costs
3.   Inventory Management: System, Planning and Control Problems

II.       Traditional Inventory Models for Independent Demand
1.   Deterministic Models for Continuous Demand – Individual Item
2.   Deterministic Models for Continuous Demand – Joint and Coordinated Replenishment
3.   Stochastic Models for Stationary Demand – Individual Item
4.   Deterministic Models for Dynamic, and Discrete Demand
5.   Single Period Inventory Model
 
III.     Dependent Demand System – Material Requirements Planning (MRP)
1.   MRP System and Types
2.   Product Structure and Level Coding
3.   MRP Calculations
4.   Extensions of MRP
 
IV.     Advanced Production/Inventory Models
1.    Multi-Echelon Inventory Systems
2.    Multistage, Multi-period Planning Models

V.       Introduction to Logistics and Supply Chain Management
1.    Concepts and Definitions
2.    Logistics Activities and Interfaces
3.    Network Design for Supply Chain
4.    Global Logistics

VI.     Logistics and Supply Chain Processes
1.    Transportation
2.    Order Processing
3.    Information Systems and E-Commerce
 
 
Learning Resources:

Textbook:
No designated textbook, but class notes and handouts will be provided.
 
Reference Books:
1.     M. Muller: Essentials of Inventory Management, 2nd Edition, Amacom, 2011.
2.     G. Ghiani, G. Laporte, and R. Musmanno: Introduction to Logistics Systems Management, 2nd Edition, Wiley, 2013.
3.     E.A. Silver, D.F. Pyke, and R. Peterson: Inventory Management and Production Planning andScheduling, 3rd Edition, John Wiley and Sons, 1998.
4.     R.J. Tersine: Principles of Inventory and Materials Management, 4th Edition, Prentice Hall, 1994.
5.     L.A. Johnson, and D.C. Montgomery: Operations Research in Production Planning, Scheduling, and Inventory Control, 1st Edition, Wiley, 1974.
6.     R.H. Ballou: Business Logistics Management, 5th Edition, Prentice Hall, 2003.
7.     J.J. Coyle, E.J. Bardi, and C. J. Langley Jr.: The Management of Business Logistics: A Supply Chain Perspective, 7th Edition, South-Western College Pub., 2003.
 
Journals and Magazines:
1.     IIE Transactions, Institute of Industrial Engineers.
2.     International Journal of Production Research, Taylor and Francis.
3.     Journal of Production Planning and Control, Taylor and Francis.
4.     Journal of Purchasing and Materials Management, Elsevier.
5.     Production and Inventory Management, American Production and Inventory Control Society APICS.
 
Time Distribution and Study Load:
Lecture hours:   45 hours
Case study:      15 hours
Home assignments/Self-study: 120 hours
 
Teaching and Learning Methods:
The teaching is done via lectures by the instructor. The learning method includes case studies and individual assignments.
 
Evaluation Scheme:
Mid-semester examination 30% (closed book), final examination 45% (closed book), case studies 25%.

An “A” would be awarded if a student shows a deep understanding of the knowledge learned through case studies analysis and exam results. A “B” would be awarded if a student shows an overall understanding of all topics. A “C” would be given if a student meets below average expectation in understanding and application of basic knowledge. A “D” would be given if a student does not meet expectations in both understanding and application of the given knowledge.
 
Instructor(s):
SECTION NAME