This course is part of the Value Chain Management Specialization

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1,145 ratings

Gopesh Anand +1 more instructor

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Part of the Master of Business Administration (iMBA) degree
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Value Chain Management SpecializationUniversity of Illinois at Urbana-Champaign

About this Course

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In this course, you will learn about the role of operations and how they are connected to other business functions in manufacturing and service-focused organizations. You will learn and practice the use of decision-making frameworks and techniques applicable at all levels, from management-level strategic decisions such as connecting process to the needs of various customer segments, to front-line tactical decisions such as choosing between ordering larger quantities vs. ordering more frequently. 
You will be able to: 

• Relate underlying principles to operations management frameworks and techniques 
• Synthesize information to make strategic operations decisions 
• Evaluate processes on different dimensions   
• Apply analytical techniques for tactical operations decision

This course is part of Gies College of Business’ suite of online programs, including the iMBA and iMSM. Learn more about admission into these programs and explore how your Coursera work can be leveraged if accepted into a degree program at https://degrees.giesbusiness.illinois.edu/idegrees/.

Flexible deadlines

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Shareable Certificate

Earn a Certificate upon completion

100% online

Start instantly and learn at your own schedule.

Coursera Labs

Includes hands on learning projects.

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Course 3 of 7 in the

Value Chain Management Specialization

Approx. 13 hours to complete

English

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Skills you will gain

Supply Chain
Inventory
Process Analytics
Operations Strategy

Flexible deadlines

Reset deadlines in accordance to your schedule.

Shareable Certificate

Earn a Certificate upon completion

100% online

Start instantly and learn at your own schedule.

Coursera Labs

Includes hands on learning projects.

Learn more about Coursera Labs

Course 3 of 7 in the

Value Chain Management Specialization

Approx. 13 hours to complete

English

Could your company benefit from training employees on in-demand skills?

Try Coursera for Business

Instructors

Instructor rating

4.69/5 (230 Ratings)

Gopesh Anand

Professor of Operations Management, Department of Business Administration, Gies College of Business

Department of Business Administration, College of Business

87,993 Learners

4 Courses

Ujjal Kumar Mukherjee

Associate Professor of Business Administration

Gies College of Business

68,391 Learners

2 Courses

Offered by

University of Illinois at Urbana-Champaign

Start working towards your Master's degree

This course is part of the 100% online Master of Business Administration (iMBA) from University of Illinois at Urbana-Champaign. If you are admitted to the full program, your courses count towards your degree learning.

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Syllabus - What you will learn from this course

Content Rating96%(4,375 ratings)

Week1

Week 1

3 hours to complete

Course Orientation & Operations Strategy

3 hours to complete

13 videos (Total 72 min), 5 readings, 9 quizzes

13 videos

Welcome to Operations Management: Organization and Analysis5mMeet Professor Gopesh Anand 3mMeet Professor Ujjal Mukherjee3mLearn on Your Terms30sDefining Operations Management9mInput-Process-Output Model8mApplication of IPO4mStrategy and Alignment5mImplementation Steps7mInvestments and Organization7mTradeoffs and Combinations6mManufacturing and Service Orientation4mManaging Service Operations5m

5 readings

Syllabus10mAbout the Discussion Forums10mUpdate Your Profile10mLearn More About Flexible Learning Paths10mModule 1 Transcripts10m

9 practice exercises

Orientation Quiz5mPractice Quiz: Defining Operations Management5mInput-Process-Output Model5mPractice Quiz: Application of IPO5mPractice Quiz: Strategy and Alignment5mPractice Quiz: Implementation Steps5mPractice Quiz: Manufacturing and Service Orientation5mPractice Quiz: Managing Service Operations5mOperations Strategy Graded Quiz 30m

Week2

Week 2

3 hours to complete

Process Configurations and Analysis

3 hours to complete

9 videos (Total 62 min), 2 readings, 9 quizzes

9 videos

Process Arrangements and Operations Strategy2mTypes of Process Arrangements9mProcess Arrangements for Competitive Differentiatiaon6mProcess Mapping8mMetrics to Assess Performance9mLittle's Law6mLittle's Law Applications5mActivities Within Processes7mCapacity Utilization5m

2 readings

Module 2 Overview10mModule 2 Readings1h

9 practice exercises

Practice Quiz: Process Arrangements and Operations Strategy5mPractice Quiz: Types of Process Arrangements5mPractice Quiz: Process Arrangements for Competitive Differentiatiaon5mPractice Quiz: Process Mapping5mPractice Quiz: Metrics to Assess Performance5mPractice Quiz: Little's Law5mPractice Quiz: Activities Within Processes5mPractice Quiz: Capacity Utilization5mProcess Configurations and Analysis Graded Quiz30m

Week3

Week 3

3 hours to complete

Inventory Management

In this module, we will learn about the importance of inventory management in operations settings. Inventories entail several costs such as holding and ordering costs. These costs depend on key decisions such as order quantity and reorder point. We will learn how the different types of costs depend on inventory decisions. We will also discuss the trade-offs associated with inventory decisions and how to make optimal decisions related to inventory management. This module is focused on simple inventory scenarios where demand is fixed and known. The learnings from this module are important because it provides key basics of inventory management which are important in learning and mastering more complex decision scenarios

3 hours to complete

8 videos (Total 66 min), 2 readings, 9 quizzes

8 videos

Inventory Concepts of Functions8mTypes and Classifications of Inventories11mInventory Cycle7mInventory Process, Cash Cycle, and Inventory Metrics10mInventory Costs10mInventory Models EOQ4mEOQ Costs and Reorder Point6mRobustness of EOQ – Sensitivity Analysis4m

2 readings

Module 3 Overview10mModule 3 Readings1h

9 practice exercises

Practice Quiz: Inventory Concepts of Functions5mPractice Quiz: Types and Classifications of Inventories5mPractice Quiz: Inventory Cycle5mPractice Quiz: Inventory Process, Cash Cycle, and Inventory Metrics5mPractice Quiz: Inventory Costs5mPractice Quiz: Inventory Models EOQ5mPractice Quiz: EOQ Costs and Reorder Point5mPractice Quiz: Robustness of EOQ – Sensitivity Analysis5mInventory Management Graded Quiz30m

Week4

Week 4

3 hours to complete

Supply Chain Management

In this module, we extend the learnings from the previous module to more complex scenarios of inventory management, namely, when demand is uncertain and cannot be predicted with certainty. First, we learn how to measure uncertainty in demand using demand distributions – particularly the Normal distribution, which is the more common demand distribution used in practice. Second, we will learn about the decision tradeoffs in managing inventory with uncertainty, namely, between service levels and costs of inventory. The key decisions related to managing inventory with demand uncertainty are order quantity, reorder point, safety or buffer stock levels, and frequency of inventory review and ordering. Upon completion of this module, we will gain knowledge and expertise in making these decisions optimally using different inventory policies such as continuous review policy and periodic review policy. This module is important for managing inventories in most operations settings in an efficient and effective manner.

3 hours to complete

9 videos (Total 54 min), 4 readings, 7 quizzes

9 videos

Understanding Demand Uncertainty5mNormal Distribution9mOne Shot Inventory Decisions – Newsvendor Model9mMultiple Inventory Ordering – Review Policies3mContinuous Review Policy11mPeriodic Review Policy6mSummary of Inventory Management1mCourse Conclusion1mGies Online Programs3m

4 readings

Module 4 Overview10mModule 4 Readings1hCongratulations!10mGet Your Course Certificate10m

7 practice exercises

Practice Quiz: Understanding Demand Uncertainty5mPractice Quiz: Normal Distribution5mPractice Quiz: One Shot Inventory Decisions – Newsvendor Model5mPractice Quiz: Multiple Inventory Ordering – Review Policies5mPractice Quiz: Continuous Review Policy5mPractice Quiz: Periodic Review Policy5mSupply Chain Management Graded Quiz30m

Reviews

4.6

321 reviews

5 stars
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4 stars
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3 stars
3.58%
2 stars
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1 star
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TOP REVIEWS FROM OPERATIONS AND SUPPLY CHAIN DECISIONS AND METRICS

by OGJul 26, 2017

I love this course, even for not native speaker it's not to hard, only was not to easy to understand assignment questions and answers. But with google translate help I passed first module! :-)

by FFNov 7, 2016

Very good course. Explanation is really clear, the topic is really on the spot and applicable. I am surprise to found that all the topic is really linked to my current and previous work.

by SMApr 29, 2020

Very well taught course with excellent examples and content. Very subtle asssignment. I loved the readings part. This course can't get anymore better. Thank you Prof. Udatta Palekar.

by FRJun 22, 2020

Content of the course was tailored professionally within the course's timeframe. Essentials points relating to Operations Management was covered cohesively and

View all reviews

About the Value Chain Management Specialization

The purpose of organizations is to produce and deliver goods and services of value to customers while generating a surplus for owners. Value chain management focuses on understanding what different customers value, measuring inputs and outputs to assess value, and generating higher value for customers and surpluses for organizations.

In this specialization, you will gain competencies that are critical for managers in any functional area. You will learn to create, model, analyze, and maximize value in accounting, operations, and marketing. This specialization is part of Gies College of Business’ suite of online programs, including the iMBA and iMSM. Learn more about admission into these programs and explore how your Coursera work can be leveraged if accepted into a degree program here.

Frequently Asked Questions

When will I have access to the lectures and assignments?
Access to lectures and assignments depends on your type of enrollment. If you take a course in audit mode, you will be able to see most course materials for free. To access graded assignments and to earn a Certificate, you will need to purchase the Certificate experience, during or after your audit. If you don't see the audit option:
The course may not offer an audit option. You can try a Free Trial instead, or apply for Financial Aid.
The course may offer 'Full Course, No Certificate' instead. This option lets you see all course materials, submit required assessments, and get a final grade. This also means that you will not be able to purchase a Certificate experience.
What will I get if I subscribe to this Specialization?
When you enroll in the course, you get access to all of the courses in the Specialization, and you earn a certificate when you complete the work. Your electronic Certificate will be added to your Accomplishments page - from there, you can print your Certificate or add it to your LinkedIn profile. If you only want to read and view the course content, you can audit the course for free.
Is financial aid available?
Yes. In select learning programs, you can apply for financial aid or a scholarship if you can’t afford the enrollment fee. If fin aid or scholarship is available for your learning program selection, you’ll find a link to apply on the description page.

More questions? Visit the Learner Help Center.

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Operations and Supply Chain Decisions and Metrics

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