Led by Ohnoian Lean Simulacrum
About this course
The third course in the Graduate Diploma. Procurement, Inventory and Supply addresses the decisions that produce — or eliminate — the waste of inventory. Every item held in stock is money not moving. The lean organising principle of this course: reduce the uncertainty that makes inventory necessary, then manage what remains.
Your host is the Ohnoian Lean Simulacrum — Taiichi Ohno's thinking on waste elimination and pull systems applied to the full procurement and inventory decision set.
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
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
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