Course Overview:

Managing demand, supply and inventories is an integral part of any business.  Proper management of these factors can help ensure that a business has the right amount of products or services to meet customer demand, while also keeping costs under control. The course teaches various techniques, such as market research and forecasting, to predict how much of a product or service will be needed to operate efficiently and adjust production and purchasing plans accordingly.  In addition, students learn the criticality of inventory management, such as maintaining an appropriate inventory level or using just-in-time production methods to minimize the need for large amounts of stock.

Prerequisite:

  • The student must have completed grade 12 or equivalent education.
  • Students from non-English speaking countries must pass the English Language Proficiency Test.
  • English Language Proficiency Test scores (IELTS – 6.0, TOEFL – 70, PTE – 45, CAEL – 70, CAE – 176, Duolingo – 110, Password – 6.5, and PTE – 61) are acceptable.

Learning Outcomes:

  • Basics of demand and supply, including how they interact with each other in a market.
  • Role of inventory in managing demand and supply, including how to determine optimal inventory levels.
  • Various inventory management techniques, such as just-in-time (JIT) and economic order quantity (EOQ), and how to apply them in different situations.
  • Significance of inventory control and the various methods for controlling inventory, including cycle counting and perpetual inventory systems.
  • Different types of inventories, such as raw materials, work-in-process, and finished goods, and how to manage them effectively.
  • Role of inventory in supply chain management, including how to coordinate with suppliers and customers to ensure a smooth flow of goods.
  • Inventory analytics to make informed decisions about demand, supply, and inventory management.
  • Risks associated with managing demand, supply, and inventory, including how to mitigate those risks through risk management strategies.

Course Content & Topics:

Class 1: Introduction to Demand, Supply and Inventory Management
Class 2: Demand Forecasting  
Class 3: Supply Chain Management    
Class 4: Inventory Management 
Class 5: Safety Stock and Inventory Replenishment     
Class 6: Capacity Planning 
Class 7: Production Planning and Scheduling   
Class 8: Sales and Operations Planning  
Class 9: Lean Manufacturing  
Class 10: Quality Management in Supply Chain    
Class 11: Supply Chain Sustainability  
Class 12: Data Analysis in Demand, Supply, and Inventory Management   
Class 13: Case Study in Demand, Supply, and Inventory Management

Final Exam: MCQs and a case study project

Credit Information:

  • Credits: 3

Duration:

  • 14 Weeks: 3 hrs/week

Course & Related Fees:

  • Domestic & International: $700 (Seven hundred dollars)

For a detailed breakdown, please refer to Policy #S-005 Programs & Course Fee Schedule

Non-Refundable Fees:

  • Application Fee: $50.00/course (payable online and non-refundable)