University of California, Irvine

Supply Chain Optimization

Paul Jan

Instructor: Paul Jan

4,231 already enrolled

Included with Coursera Plus

Gain insight into a topic and learn the fundamentals.
4.5

(28 reviews)

Intermediate level

Recommended experience

8 hours to complete
3 weeks at 2 hours a week
Flexible schedule
Learn at your own pace
Gain insight into a topic and learn the fundamentals.
4.5

(28 reviews)

Intermediate level

Recommended experience

8 hours to complete
3 weeks at 2 hours a week
Flexible schedule
Learn at your own pace

What you'll learn

  • Identify the components of capacity optimization, resource optimization, and Monte Carlo simulation.

  • Set up and solve optimization problems in Excel.

  • Build a demand and inventory snapshot and run Monte Carlo simulation to solve for a more agile supply chain.

Details to know

Shareable certificate

Add to your LinkedIn profile

Assessments

4 assignments

Taught in English

See how employees at top companies are mastering in-demand skills

Placeholder

Build your subject-matter expertise

This course is part of the Leverage Data Science for a More Agile Supply Chain Specialization
When you enroll in this course, you'll also be enrolled in this Specialization.
  • Learn new concepts from industry experts
  • Gain a foundational understanding of a subject or tool
  • Develop job-relevant skills with hands-on projects
  • Earn a shareable career certificate
Placeholder
Placeholder

Earn a career certificate

Add this credential to your LinkedIn profile, resume, or CV

Share it on social media and in your performance review

Placeholder

There are 4 modules in this course

Welcome to Module 1, Optimization Defined. The word optimization has filled our lives in the last decade. Everywhere we turn, we either hear or see the word optimization, especially for those involved in marketing, supply chain, and operations. In this module, we will define optimization and describe its purpose in the supply chain. We will also identify the components of an optimization algorithm and see how to use an objective function in Excel. In our activity, we will practice formulating a maximization function.

What's included

1 video2 readings1 assignment1 discussion prompt

Welcome to Module 2, Capacity Optimization. In the previous module, we described optimization in general and saw how to set up an optimization problem in Excel. Over these next two modules, we will dive into two specific examples of optimization: capacity optimization and resource optimization. In this module, we will identify the goal of capacity optimization and overview some examples of how it can be used in the supply chain. We will also demo the steps to create a capacity optimization problem in Excel and recall these steps for our quiz. In our activity, we will describe how everyday tasks or functions can benefit from capacity optimization.

What's included

1 video1 reading1 assignment1 discussion prompt

Welcome to Module 3, Resource Optimization. In this module, we will identify the goal of resource optimization, how it differs from capacity optimization, and go through some industry examples. We will learn how to set up a resource optimization problem in Excel through our demo video and recall these steps in our quiz. Finally, we will put what we’ve learned into practice by setting up and solving a resource optimization problem in Excel.

What's included

1 video1 reading1 assignment1 discussion prompt

Welcome to Module 4, Monte Carlo Simulation. In this module, we will define a Monte Carlo simulation and when it should be used. Through our demo video, we will learn how to set up a Monte Carlo simulation in Excel, which will prepare us to identify the key inputs and Excel features needed to run a Monte Carlo simulation for our quiz. As a close to this specialization, this module has a peer-graded assignment. In our assignment, we will practice the skills learned in all three courses to build a demand and inventory snapshot and then use a Monte Carlo simulation to minimize costs. Finally, in our discussion, we will reflect on how skills learned through the past three courses can be applied to our current or future careers.

What's included

1 video4 readings1 assignment1 peer review1 discussion prompt

Instructor

Instructor ratings
4.4 (5 ratings)
Paul Jan
University of California, Irvine
3 Courses18,372 learners

Offered by

Recommended if you're interested in Business Strategy

Why people choose Coursera for their career

Felipe M.
Learner since 2018
"To be able to take courses at my own pace and rhythm has been an amazing experience. I can learn whenever it fits my schedule and mood."
Jennifer J.
Learner since 2020
"I directly applied the concepts and skills I learned from my courses to an exciting new project at work."
Larry W.
Learner since 2021
"When I need courses on topics that my university doesn't offer, Coursera is one of the best places to go."
Chaitanya A.
"Learning isn't just about being better at your job: it's so much more than that. Coursera allows me to learn without limits."

Learner reviews

Showing 3 of 28

4.5

28 reviews

  • 5 stars

    67.85%

  • 4 stars

    25%

  • 3 stars

    3.57%

  • 2 stars

    0%

  • 1 star

    3.57%

AH
5

Reviewed on Oct 31, 2023

MT
5

Reviewed on Nov 26, 2023

New to Business Strategy? Start here.

Placeholder

Open new doors with Coursera Plus

Unlimited access to 7,000+ world-class courses, hands-on projects, and job-ready certificate programs - all included in your subscription

Advance your career with an online degree

Earn a degree from world-class universities - 100% online

Join over 3,400 global companies that choose Coursera for Business

Upskill your employees to excel in the digital economy

Frequently asked questions