Logistics Systems
Course facts
- Payment: Free, no certificate
- Credits: Non Credit
- Learning style: Self-paced, start anytime
- Resources: Lecture Notes; Problem Sets
MIT OpenCourseWare details
- As taught in: Fall 2006
- Department: Engineering Systems Division, Civil and Environmental Engineering, Sloan School of Management
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Analytic tools for supply chains: demand forecasting, inventory management, transportation and network design, with notes and data assignments.
How much stock should a company hold, and how should goods move through its network? This survey teaches the fundamental analytic tools for designing and operating logistics systems and integrated supply chains, from a managerial perspective. It develops models that show where specific tools can improve performance and reduce total cost, with heavy use of industry examples. It is neither purely theoretical nor a case study course.
What You Will Achieve
- Forecast demand with time series and causal analysis
- Set inventory policy under certain and uncertain demand
- Analyze transportation networks and routing approaches
- Use total supply chain cost in analysis
Program Overview
Demand Forecasting
Estimating what customers will want.
- Supply chain fundamentals and segmentation analysis
- Time series analysis
- New product forecasting
Inventory Management
Deciding how much to hold, and when.
- Level demand and EOQ
- Probabilistic demand and safety stock
- Fashion, style and perishable goods
- MRP and DRP systems
Transportation and Network Design
Moving goods and structuring the chain.
- Supply chain network design
- Supply chain contracts and auctions
- Routing and scheduling
- Carrier operations and yield management
Course Completion
Job Outlook
These skills are relevant to supply chain planning, logistics analysis and operations management.
Good for: Graduate students and practitioners in operations who want an analytical, model-based view of supply chains using spreadsheets.
Keep in mind: The class dates from 2006, so examples are older. It uses the Silver, Pyke and Peterson textbook, and no solutions or videos are listed, so check your own answers carefully.
Bottom line: A solid analytical survey of forecasting, inventory and transportation, with data-based assignments.
Frequently Asked Questions
What software do I need?
Standard spreadsheet programs such as Microsoft Excel are sufficient for the required analysis. Several assignments come with supporting data in Excel files.
What assignments are published?
Four individual problem sets and three team assignments, which were all required of students in the class.
What textbook is required?
Inventory Management and Production Planning and Scheduling by Silver, Pyke and Peterson, third edition. Optional texts include Nahmias, Chopra and Meindl, Ballou, and Cachon and Terwiesch.
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