Inventory Management (Functional and Cross-Functional Problems of IOM) *
Name of module: Inventory Management (Functional and Cross-Functional Problems of IOM) *
Exam number: 6504
Duration of the module: Ein Semester
Form of the module (i.e. obligatory, elective course): Wahlpflicht
Frequency of module offer: Summer semester 2011
Prerequisites: Completion of "Supply Chain Management & Logistics" recommended.
Applicability of module for other modules and study programmes:
Verwendbar als Masterseminar, G-Modul. Serviceveranstaltung für Masterstudierende der Kultur- bzw. Rechtswissenschaften.
Person responsible for module: Prof. Dr. Christian Almeder
Name of the professor: Prof. Dr. Christian Almeder
Language of teaching: Englisch
ECTS-Credits (based on the workload): 7 (T-Modul); 7 (Masterseminar); 5 (G-Modul)
Workload and its composition (self-study, contact time):
T-Modul, Masterseminar: Kontaktzeit (Vorlesung, Übung, Seminar etc.) 60 Std.; Selbststudium: 150 Std. / G-Modul: Kontaktzeit (Vorlesung, Übung, Seminar etc.) 37,5 Std.; Selbststudium: 112,5 Std.
Contact hours (per week in semester): 3+1
Methods and duration of examination:
- for T-Modul (7 ECTS-Credits): successful final exam (75%) and the successful presentation of a special topic or the preparation and presentation of a seminar work (25 %),
- for Masterseminar (7 ECTS-Credits): successful final exam (25%) and the successful presentation of a special topic or the preparation and presentation of a seminar work (75 %),
- for G-Modul (5 ECTS-Credits) successful final exam
Emphasis of the grade for the final grade: 2/29 (T-Modul); 1/29 (G-Modul)
Aim of the module (expected learning outcomes and competencies to be acquired):
Inventory management is one of the key factors in supply chain management. Reducing inventory levels while keeping customer service levels high is a major requirement for successful supply chains. This course provides insights to the main principles of inventory management. Different management strategies suitable for specific situations such as procurement, production and distribution will be discussed. Situations of deterministic and stochastic demand, quantity-discounts, multi-echelon systems and lot-sizing decisions in general are analyzed.
Contents of the module:
The main topics of the course are:
- Introduction and classification of inventory management models
- Inventory models for deterministic demand
- Inventory models for stochastic demand
- Multiple stocking points and multi-echelon systems
- Slow-moving items
- Designing and operating warehouses
Teaching and learning methods:
Lectures, seminars and presentations
Lecture notes and additional material are provided online. Presentations of special topics and case-studies by students.
Literature (compulsory reading, recommended literature):
The material of the course is mainly based on:
- Paul H. Zipkin: Foundations of Inventory Management, McGraw-Hill, 2000.
- Gianpaolo Ghiani, Gilbert Laporte, Roberto Musmanno: Introduction to Ligistics Systems Planning and Control, Wiley, 2004.
Additional material will be announced during the course.