University of California, Irvine

Supply Chain Optimization

This course is part of Leverage Data Science for a More Agile Supply Chain Specialization

Taught in English

Some content may not be translated

Paul Jan

Instructor: Paul Jan

2,911 already enrolled

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Course

Gain insight into a topic and learn the fundamentals

4.5

(17 reviews)

Intermediate level

Recommended experience

8 hours (approximately)
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.

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Assessments

4 quizzes

Course

Gain insight into a topic and learn the fundamentals

4.5

(17 reviews)

Intermediate level

Recommended experience

8 hours (approximately)
Flexible schedule
Learn at your own pace

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

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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.
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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 quiz1 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 quiz1 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 quiz1 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 quiz1 peer review1 discussion prompt

Instructor

Paul Jan
University of California, Irvine
3 Courses12,141 learners

Offered by

Recommended if you're interested in Business Strategy

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5

Reviewed on Oct 31, 2023

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