This course is part of the Leverage Data Science for a More Agile Supply Chain Specialization

4.5
stars
28 ratings

Paul Jan

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Offered By

Leverage Data Science for a More Agile Supply Chain SpecializationUniversity of California, Irvine

About this Course

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Inventory is a strategic asset for organizations. The effective management of inventory can minimize a company’s spending while dramatically increasing its profit. In this course, we will explore how to use data science to manage inventory in uncertain environments, how to set inventory levels based on customer service requirements, and how to calculate inventory for products that have short sales cycles.

Flexible deadlines

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Shareable Certificate

Earn a Certificate upon completion

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Course 2 of 3 in the

Leverage Data Science for a More Agile Supply Chain Specialization

Intermediate Level

At least 1-2 years of supply chain management experience is recommended.

Approx. 5 hours to complete

English

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What you will learn

Manage inventory in an uncertain environment.
Analyze historical data to determine inventory levels in steady and uncertain demand situations using Excel.
Quantify the inventory needs for single-period items using the newsvendor model.

Flexible deadlines

Reset deadlines in accordance to your schedule.

Shareable Certificate

Earn a Certificate upon completion

100% online

Start instantly and learn at your own schedule.

Course 2 of 3 in the

Leverage Data Science for a More Agile Supply Chain Specialization

Intermediate Level

At least 1-2 years of supply chain management experience is recommended.

Approx. 5 hours to complete

English

Could your company benefit from training employees on in-demand skills?

Try Coursera for Business

Instructor

Instructor rating

4.25/5 (5 Ratings)

Paul Jan

Supply Chain Thought-Leader and Educator

Division of Continuing Education

3,343 Learners

3 Courses

Offered by

University of California, Irvine

Since 1965, the University of California, Irvine has combined the strengths of a major research university with the bounty of an incomparable Southern California location. UCI’s unyielding commitment to rigorous academics, cutting-edge research, and leadership and character development makes the campus a driving force for innovation and discovery that serves our local, national and global communities in many ways.

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Syllabus - What you will learn from this course

Week1

Week 1

1 hour to complete

Steady-State Demand: No Demand Variability

1 hour to complete

1 video (Total 13 min), 3 readings, 1 quiz

Week2

Week 2

1 hour to complete

Inventory Management with Demand Variability

1 hour to complete

1 video (Total 17 min), 2 readings, 1 quiz

Week3

Week 3

1 hour to complete

Inventory as a Strategic Tool to Meet Customer Service Level

1 hour to complete

1 video (Total 9 min), 1 reading, 1 quiz

Week4

Week 4

2 hours to complete

Newsvendor Model (One-Period Decision Model)

2 hours to complete

1 video (Total 15 min), 3 readings, 1 quiz

Reviews

4.5

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32.14%
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3.57%
1 star
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TOP REVIEWS FROM INVENTORY MANAGEMENT

by DSNov 29, 2022

i like this course and it is very knowledgeable thanks coursera

by UKNov 10, 2022

This course explains profoundly how to effectively manage inventory. An amazing course.

View all reviews

About the Leverage Data Science for a More Agile Supply Chain Specialization

Over the past two decades, the supply chain has become more complex. While advancing technology has allowed companies to capture this complexity within stores of ever accumulating data, companies have not kept up with how to analyze and derive insights from that data. This specialization uses hands-on activities to show how data science techniques can turn raw data into decision-makers for a more agile supply chain. Foundational techniques such as demand forecasting, inventory management with demand variability, and using the newsvendor model are covered, in addition to more advanced techniques such as how to optimize for capacity and resources as well as mitigate risks with the Monte Carlo simulation. By the end of this specialization, you will be able to:

Describe how demand planning, supply planning, and constrained forecast are associated with one another. Use Excel to analyze historical data to quantify future needs. Analyze historical data to determine inventory levels in steady and uncertain demand situations using Excel. Manage inventory in an uncertain environment. Quantify the inventory needs for single-period items using the newsvendor model. Identify the components of capacity optimization, resource optimization, and Monte Carlo simulation. Set up and solve optimization problems in Excel. Build a demand and inventory snapshot and run a Monte Carlo simulation to solve for a more agile supply chain.

Leverage Data Science for a More Agile Supply Chain

Frequently Asked Questions

When will I have access to the lectures and assignments?
Access to lectures and assignments depends on your type of enrollment. If you take a course in audit mode, you will be able to see most course materials for free. To access graded assignments and to earn a Certificate, you will need to purchase the Certificate experience, during or after your audit. If you don't see the audit option:
The course may not offer an audit option. You can try a Free Trial instead, or apply for Financial Aid.
The course may offer 'Full Course, No Certificate' instead. This option lets you see all course materials, submit required assessments, and get a final grade. This also means that you will not be able to purchase a Certificate experience.
What will I get if I subscribe to this Specialization?
When you enroll in the course, you get access to all of the courses in the Specialization, and you earn a certificate when you complete the work. Your electronic Certificate will be added to your Accomplishments page - from there, you can print your Certificate or add it to your LinkedIn profile. If you only want to read and view the course content, you can audit the course for free.
Is financial aid available?
Yes. In select learning programs, you can apply for financial aid or a scholarship if you can’t afford the enrollment fee. If fin aid or scholarship is available for your learning program selection, you’ll find a link to apply on the description page.

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Inventory Management

About this Course

What you will learn