Management of Inventory Systems

Week 1 : Introduction to Inventory and Materials Management: Concepts and Issues,Types of inventory,Inventory costs and their measurement, Structure of inventory models, Importance and areas of materials management.
Week 2 : Inventory Problems and Selective Inventory Management: Classification of inventory problems, Importance-based classification of inventory, selective inventory management techniques and their use, Numerical problems.
Week 3 : Static Inventory Problems under Risk: General characteristics, Opportunity cost matrix and cost structure, Mathematical formulations (discrete and continuous cases), Imputation of costs, Numerical problems.
Week 4 : Static Inventory Problems under Uncertainty: General characteristics, Decision criteria for uncertainty and inventory problems, Distribution-free analysis (Tchebycheff and other inequalities), Comparison of analyses with full and partial information, Numerical problems.
Week 5 : Dynamic Inventory Problems under Certainty: General characteristics, Fixed Order Size System (EOQ and its variants), Economic Production Quantity (EPQ), Fixed order interval system, Inventory problem formulation and solution under constraints, Numerical problems.
Week 6 : Dynamic Inventory Problems under Risk: General characteristics, Types of inventory control systems with known stock-out costs and service levels, Approximate and exact methods for safety stock determination, Numerical problems.
Week 7 : MRP, MRP-II and DRP: Concepts and Issues of MRP, Design of MRP system and its variants (MRP-II and DRP), Numerical problems.
Week 8 : JIT-based Approaches for Materials Management: Concepts and Issues, Relationship with Lean Engineering practices, Design of JIT-based inventory management systems, Numerical problems.
Week 9 : Basics of Purchasing Management: Fundamentals and importance of industrial purchasing, Types of purchasing, Related techniques (non-quantitative and quantitative) in purchasing, Measurement and evaluation of performance of suppliers and purchasing systems,Numerical problems.
Week 10 : Theory of Constraints and Materials Management: Concept and Issues, Bottleneck and non-bottleneck resources, Process and transfer batches, Capacity constraint resources, D-B-R scheduling and VAT plants, Effect on materials management, Numerical problems.
Week 11 : Value Engineering/Analysis and Stores Management: Objectives and issues of Value Engineering/Analysis(VE/VA), Steps in VE/VA, Effects on purchasing and materials management, Basics of and approaches for stores management, Numerical problems.
Week 12 : Logistics and Supply Chain Management: Trends and issues, Push versus Pull distribution system, Basic Issues in Design for Logistics, SCM, and Greening SC, Inventory system development, Numerical problems.