# OPM610 - Production Scheduling and Inventory Management

 Semester Fall - 2018 Fall - 2017 Winter - 2017 Fall - 2016 Fall - 2015 Fall - 2014 Fall - 2013 Fall - 2012 Fall - 2011 Fall - 2010 Winter - 2010 Fall - 2009 Winter - 2009 Winter - 2008 Winter - 2007 Winter - 2006 Winter - 2005 Winter - 2004 Winter - 2003 Winter - 2002 Winter - 2001 Winter - 2000 Schools offering this subject Select school School of International Business & Management Last revision date Jul 30, 2018 11:35:37 AM Last review date Jul 30, 2018 11:36:06 AM

Subject Title
Production Scheduling and Inventory Management

Subject Description
This course introduces the student to Inventory Management, Production Planning Techniques and Lean Production Principles. Basic statistical tools that enable effective decision making in production and supply chain situations are also examined. A major challenge today in industry is the effective management of inventory. While inventory is necessary for most firms, maintaining the optimum type and quantity is a constant dilemma. Students will learn how to effectively manage inventory in order to optimize operational performance.

Credit Status
One credit.

Note: This is a core subject for the Business Administration - Operations Management (BAO) specialization, as well as a Professional Option for 5th and 6th semester students of other programs.

Learning Outcomes
Upon successful completion of this subject the student will be able to:

1. Calculate various measures of location and dispersion, including the mean, median, mode, standard deviation, and variance.
2. Recognize normal distribution problems and know how to solve such problems by calculating the z-value corresponding to any observation on a normal distribution.
3. Demonstrate an understanding of the characteristics and origins of Lean Production.
4. Calculate aggregate inventory levels using different strategies.
5. Explain the Theory of Constraints, and how to manage bottlenecks.
6. Compare and contrast the various types and functions of inventory.
7. Calculate and cost out optimum order quantities under level demand conditions.
8. Use fixed order quantity and fixed time period models to solve inventory problems.
9. Apply the logic of MRP, and how it can be used to plan inventories, how to schedule receipt of materials and to meet delivery dates.

Essential Employability Skills
Communicate clearly, concisely and correctly in the written, spoken and visual form that fulfils the purpose and meets the needs of the audience.

Respond to written, spoken, or visual messages in a manner that ensures effective communication.

Use a variety of thinking skills to anticipate and solve problems.

Locate, select, organize, and document information using appropriate technology and information systems.

Analyze, evaluate, and apply relevant information from a variety of sources.

Manage the use of time and other resources to complete projects.