Need a fresh, fact-based inventory strategy or a better way to inte grate supply and demand? Two back-to-back short courses from the Massachusetts Institute of Technology (MIT) will show you how to use models to come up with solutions.
"New Approaches to Optimizing Inventories," which will be held in Cambridge, Mass., on July 16 and 17, will present modeling con cepts for planning and managing inventories at the strategic, tacti cal, and operational level. The course covers the fundamentals of inventory theory as well as how simulation and optimization mod els can be used to decide where to deploy inventory. The instruc tors will also address the basics of using optimization models, such as how to select a model; how to collect, prepare, and validate your data; and how to change your surrounding processes. The theories and technical discussions will be bolstered by case studies from companies that have successfully used modeling to establish the optimal inventory levels for their businesses.
The second course, "Demand-Driven Supply Chain Management," which will be held on July 18 and 19, looks at how to use models to better coordinate supply and demand management. This course will address many of the same modeling concerns as the first one but within the context of optimizing the overall supply chain network.
For more information, visit web.mit.edu.