LOGI3477

DEMAND AND INVENTROY

MANAGEMENT

ASSIST. PROF. (PHD) Yeşim Deniz Özkan Özen

WEEK 1
CONTACT INFORMATION & OFFICE HOURS

yesim.ozen@yasar.edu.tr
T615
Office Hours – have an appointment
TERM PLAN
COURSE OUTLINE/SCHEDULE (Weekly)
Preliminary Preparation Methodology and
Implementation
Week Topics
(theory, practice,
assignment etc)
1 Introduction
2 Forecasting Part 1
3 Forecasting Part 2 In-Class Assignment 1
4 Elements of Inventory Planning
5 Inventory Control Subject to Known Demand Part 1 In-Class Assignment 2
6 Inventory Control Subject to Known Demand Part 2
7 Midterm Recap and Problem Solving In-Class Assignment 3
8 Midterm Exam
9 Inventory Control Subject to Uncertain Demand Part 1
10 Inventory Control Subject to Uncertain Demand Part 2
11 MRP Part 1
12 MRP Part 2 In-Class Assignment 4
13 JIT and Lean Operations
14 Final Recap and Problem Solving In-Class Assignment 5
Sources

• Lecture notes on Moodle

• O P E R AT I O N S MANAGEMENT: Sustainability and
Required Course Material (s) /Reading(s)/Text Book (s)
Supply Chain Management, Heizer, Render &Munson
Pearson, 2020
GRADING

ASSESSMENT

Semester Activities/ Studies NUMBER WEIGHT in %

Midterm 1 35
In-Class Assignment (s) 5 20
Final Exam 1 45
TOTAL . 100
Objective of the Course
▪ Defining main principles of inventory and demand management
▪ Understanding the importance of inventory management for logistics
▪ Learning different forecasting techniques
▪ Understanding the difference between inventory control subject to known and
uncertain demand
▪ Understanding the difference between Push and Pull Systems
What is Inventory?

• Inventory- A physical resource that a firm holds in stock with the

intent of selling it or transforming it into a more valuable state.

• Inventory System- A set of policies and controls that monitors

levels of inventory and determines what levels should be
maintained, when stock should be replenished, and how large
orders should be managed.
 What is Inventory? – cont.
Inventories are:
• Stockpiles of raw materials,
• Supplies, components,
• Work in progress and finished goods,
• Appear at numerous points throughout a firm’s production and logistics channel
 Inventory Management
▪ Helps the supply chain to improve customer service
▪ Can meet high expectations for product availability when located in the proximity of the
customer
▪ Reduce costs in the supply chain
▪ Holding inventories may encourage economies of production
▪ Holding inventories fosters economies in purchasing and transportation.
A Crucial Component of Production:
Inventory
Transformation
Inputs Process Outputs
(raw material, goods,
customers) services
Resources:
labor & capital

A transformation process is defined as a use of resources

to transform inputs into some desired outputs

Inventories are created and used at all stages of the

transformation process
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