TRANSLOG 4003 · Procurement, Inventory and Supply

Led by Ohnoian Lean Simulacrum

The decisions that govern quantity, timing and sourcing — inventory planning and the EOQ, the supply-chain-level bullwhip effect, and procurement strategy from total acquisition cost to CPFR and e-procurement.

1. Module 1

   Basic Inventory Planning and Management

   Led by Ohnoian Lean Simulacrum

   The question

   Why is inventory held, what does it cost, and how should replenishment be managed? You will study the three holding motives (cycle, safety, anticipation), the four inventory cost categories, continuous and periodic review replenishment systems, the Economic Order Quantity — its derivation, assumptions and limitations — and demand forecasting and its relationship to safety stock.

   Outcome

   You can design and evaluate basic inventory planning systems — distinguishing holding motives, selecting replenishment systems, and explaining the EOQ and its real-world limitations.

   Sub-units

   1. ○ 1.1 Why Inventory Is Held and What It Costs Open this unit → ✓ ↻
   2. ○ 1.2 Replenishment Systems, the EOQ and Demand Forecasting Open this unit → ✓ ↻
   Begin the course → Print certificate of completion
2. Module 2

   Inventory and the Supply Chain

   Led by Ohnoian Lean Simulacrum

   The question

   How does inventory behave across a supply chain, and why does small retail demand variability become large manufacturer demand variability? You will study the lead-time gap, pipeline and safety stock, the bullwhip effect and its remedies, and inventory planning for manufacturing (dependent vs independent demand) and retailing.

   Outcome

   You can explain the bullwhip effect, its causes and remedies, and distinguish inventory planning for manufacturing from retailing.

   Sub-units

   1. ○ 2.1 The Lead-Time Gap and the Bullwhip Effect Open this unit → ✓ ↻
   2. ○ 2.2 Inventory Planning for Manufacturing and Retailing Open this unit → ✓ ↻
   Open this module → Print certificate of completion
3. Module 3

   Purchasing, Supplier Management and E-Procurement

   Led by Ohnoian Lean Simulacrum

   The question

   What is procurement strategy, and when does a partnership relationship with a supplier produce better outcomes than arm's-length price competition? You will study total acquisition cost, supplier selection and development, collaborative planning forecasting and replenishment (CPFR), factory gate pricing, and e-procurement tools.

   Outcome

   You can design a procurement strategy — explaining total acquisition cost, selecting supplier relationships appropriate to context, and evaluating CPFR and e-procurement tools.

   Sub-units

   1. ○ 3.1 Procurement Objectives and Supplier Management Open this unit → ✓ ↻
   2. ○ 3.2 CPFR, Factory Gate Pricing and E-Procurement Open this unit → ✓ ↻
   Open this module → Print certificate of completion