The course covers a range of topics from management science that have a practical relevance to supply chain methods
Business Modelling
Linear programming: its use in resource allocation.
Formulation of problems in terms of objective
function and constraints including examples from Investment Portfolio Analysis, Blending Problems, Time Scheduling and Media Selection;
Shadow (or dual) values;
Alternate Optima and degeneracy;
Duality;
Post-optimality (sensitivity) analysis.
Differential Calculus
Use of functions, including polynomial, logarithmic and the exponential functions.
Rules of differentiation.
Evaluation and interpretation of derivatives, stationary points and marginal analysis.
Application of derivatives to problems in profit and revenue maximisation, cost minimisation and break-even analysis.
Inventory Planning and Control
The functions of inventory
Nature and cost aspects of stock control;
Deterministic Models:
Economic order quantity;
Gradual Replenishment;
Discounts;
Stock outs/Shortages;
Materials Requirement Planning and Just in Time.
Stochastic models:
Reorder Level Approach, Service Level Approach and Periodic Review Approach;.
Use of packages such as excel.
Supply Chain Methods
The course covers a range of techniques from management science that have a practical relevance to supply chain methods.
The module will be delivered using a discussion session approach
| Module Content & Assessment | |
|---|---|
| Assessment Breakdown | % |
| Formal Examination | 80 |
| Other Assessment(s) | 20 |