OPM610 - Production Scheduling and Inventory Management

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Last revision date Aug 12, 2019 11:38:22 AM
Last review date Aug 12, 2019 11:38:22 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.

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

  1. Demonstrate an understanding of the characteristics and origins of Lean Production.
  2. Calculate aggregate inventory levels using different strategies.
  3. Explain the Theory of Constraints, and how to manage bottlenecks.
  4. Compare and contrast the various types and functions of inventory.
  5. Calculate and cost out optimum order quantities under level demand conditions.
  6. Use fixed order quantity and fixed time period models to solve inventory problems.
  7. 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.
  8. Use common priority rules and performance measures for scheduling jobs and work centres.

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.

Academic Integrity
Seneca upholds a learning community that values academic integrity, honesty, fairness, trust, respect, responsibility and courage. These values enhance Seneca's commitment to deliver high-quality education and teaching excellence, while supporting a positive learning environment. Ensure that you are aware of Seneca's Academic Integrity Policy which can be found at: http://www.senecacollege.ca/about/policies/academic-integrity-policy.html Review section 2 of the policy for details regarding approaches to supporting integrity. Section 2.3 and Appendix B of the policy describe various sanctions that can be applied, if there is suspected academic misconduct (e.g., contract cheating, cheating, falsification, impersonation or plagiarism).

Please visit the Academic Integrity website http://open2.senecac.on.ca/sites/academic-integrity/for-students to understand and learn more about how to prepare and submit work so that it supports academic integrity, and to avoid academic misconduct.

All students and employees have the right to study and work in an environment that is free from discrimination and/or harassment. Language or activities that defeat this objective violate the College Policy on Discrimination/Harassment and shall not be tolerated. Information and assistance are available from the Student Conduct Office at student.conduct@senecacollege.ca.

Accommodation for Students with Disabilities
The College will provide reasonable accommodation to students with disabilities in order to promote academic success. If you require accommodation, contact the Counselling and Accessibility Services Office at ext. 22900 to initiate the process for documenting, assessing and implementing your individual accommodation needs.