Learning Outcomes

Having completed this course, you should be able to:

• Discuss the single-period model or newsboy problem
• Explain the concept of discrete and continuous stocking levels
• Identify the requirements for effective inventory management
• Discuss the concept of material requirements planning and MRP inputs
• Identify the terms used in MRP processing
• Explain the concept of lot sizing and various models of lot sizing
• Discuss intermediate planning and aggregate planning in perspective
• Identify the supply chain and various demand options
• Discuss the basic strategies for meeting uneven demands