The main knowledge to be acquired by students with this unit is the methodologies, models and techniques in the inventory management scope. Students should be able to know models support decisions models at the inventory management level, subject to one or several constraints, with deterministic and probabilistic demand and also deterministic and probabilistic replenishment lead time. They should also know decision models for inventory management of style goods and perishable items, the functions of procurement activity, how to select suppliers, and evaluate the performance activity.
With this unit students are expected to develop their skills to analyze activities associated to inventory management in an economic management approach. They should have ability to elect the best methods and techniques to support decisions in order to improve the efficiency and effectiveness of the inventory management. Furthermore, students should also train their skills in interpreting the inventory management performance.
António Carlos Bárbara Grilo, Virgínia Helena Arimateia de Campos Machado
Weekly - 5
Total - 77
Chopra, S., 2019, Supply Chain Management. Stratgey, Planning, and Operation, 7ª ed., Pearson, Harlow.
Lynwood, A.J, e Montgomery, D.C., 1974, Operations Research in Production Planning, Scheduling and Inventory Control, John Wiley & Sons, New York.
Machado, V.H., 2001 "Apontamentos de Gestão de Stocks" FCT/UNL, Caparica, Portugal.
Silver, E.A., Pyke, D.F. e Peterson, R., 1998, Inventory Management and Production Planning and Scheduling, 3ª ed., John Wiley & Sons, New York.
In lectures the expositive method is adopted to present concepts, methods and models. Oral questions are frequently made for prerequisite control, knowledge assessment and stimulate students’ participation.
In laboratory sessions the experimental method is adopted. Active methods are used. The students are challenged with multifaceted problems which should be solved. Also, case studies are analysed and discussed. Frequently teamwork is used.
The course grading is based on 3 closed-book tests (T1 - 1st test, T2 - 2nd test and T3 - 3rd test) with the following weights:
Final Grade = 0,30 T1 + 0,35 T2 + 0,35 T3
In exam the evaluation of the course involves the exam score (E).
Final grade = E
To be exempted from the final exam, the student must assure a mark equal or above 9.5 on the average of closed-book tests.
Frequency, valid for 1 year, depends on the presence in at least 65% of practical classes.
Introduction: The nature and the importance of inventory management on supply chain management.
Inventory management of items under dependent demand: Material Requirements Planning.
Inventory management of items under independent demand: Decision rules for items with time varying demand pattern; Deterministic and stochastic models for items with infinite or finite replenishment rate; economic orders considering quantity discounts, continuous or periodic replenishment under constrained situations. Inventory Management of style goods and perishable items.
Planning and control in multiechelon inventory situations: centralized and decentralized management; Push and pull systems; Waste recovery systems.
Purchasing management: Purchasing activities; Supplier selection and evaluation; Traditional and JIT management; Vendor inventory management.
Performance evaluation measures.
Programs where the course is taught: