This course will cover the role that procurement and inventory management plays in the business world. The course is designed to teach the students the science and arts of efficient and cost-effective inventory management. The raw material, work in process, and the finished goods inventory management in entirety are dealt with in this course.
Course Catalogue
This course will cover how humanitarian relief is provided and explore the logistical concepts and principles that are applied in humanitarian operations. At the end of the course, students will be able to recognize how contextual differences alter the requirements of logistics management during aid operations.
This course provides the essential framework, concepts and toolkit required for the strategic management of sustainable logistics and the supply chain. Emphasis will be given to carbon footprint in supply chains, labor issues, as well as sustainable sourcing.
The course is designed to train the students in analytical, experimental and quantitative approaches to solution of business problems. Emphasis is placed upon development of techniques which enable decision-makers to arrive at optimum solutions. Students develop skill in formulating and solving mathematical models dealing with inventory, waiting lines, game theory, linear programming, transportation, dynamic programming simulation and other decision tools.
Introduction. Sets and probability. Random variable and its probability distribution. Treatment of grouped sampled data. Some discrete probability distribution. Normal distribution. Sampling theory. Estimation theory. Tests of hypothesis. Regression and correlation. Analysis of variance.
Introduction to Statistics: what is statistics, statistical data, statistical methods, scope and limitation of statistics, Populations and Samples, collection and presentation of data, Grouped Data and Histograms, Some Graphical Methods: bar charts, time plots, Pie charts, scatter plots, box and Whisker plots, Measure of Central Tendency: mean, median and mode. Measure of Variations, Measure of Skewness, Moments and Kurtosis, difference between Variation and Skewness. Correlation and Regression Analysis: significance of the study of correlation, types of correlation, difference between correlation and regression Analysis, Sampling and Sampling Distributions, Survey Sampling Methods. Probability: Probability: meaning of probability, classical definition of probability, statistical probability, some theorems in probability, distribution function. Probability distributions: Binomial, normal and exponential distributions.
Statistics:
Introduction to Statistics: what is statistics, statistical data, statistical methods, scope and limitation of statistics, Populations and Samples, collection and presentation of data, Grouped Data and Histograms, Some Graphical Methods: bar charts, time plots, Pie charts, scatter plots, box and Whisker plots, Measure of Central Tendency: mean , median and mode, Measure of Variations, Measure of Skewness, Moments and Kurtosis, difference between Variation and Skewness, Correlation and Regression Analysis: significance of the study of correlation, types of correlation, difference between correlation and regression Analysis, Sampling and Sampling Distributions, Survey Sampling Methods.
Probability:
Probability: meaning of probability, classical definition of probability, statistical probability, some theorems in probability, distribution function, probability distributions:
Binomial, normal and exponential distributions.