Course Code: SCM201
Enquire

Synopsis

The planning function in supply chain management (SCM) plays a critical role in determining resources and requirements that align with overall business goals. SCM201 Demand Planning and Inventory Management equips learners with the knowledge and skills to make informed decisions in demand planning. Starting with real-world applications, the course explores the demand planning process and how external factors shape demand. Students will gain insights into forecasting concepts, including planning horizons, data patterns, and forecast errors. The course covers both qualitative and quantitative forecasting methods, advancing to modern techniques. Students will delve into inventory management, focusing on balancing costs and service levels under known and uncertain demand scenarios. Topics such as economic order quantity, reorder level, and safety stock are examined to optimise cost and improve service level. Through practical case studies, students will apply their knowledge to solve complex problems in demand planning and inventory management, preparing them for dynamic roles in SCM.
Level: 2
Presentation Pattern: EVERY JULY

Topics

  • Demand Planning and Inventory Management in Practice
  • Demand Planning Process
  • Forecasting Concepts
  • Qualitative and Quantitative Forecasting Models
  • Advanced Forecasting Models
  • Forecast Accuracy and Demand Sensing
  • Inventory Management Concepts
  • Models for Known Demand
  • Service Level and Safety Stock
  • Models for Uncertain Demand
  • Impact of Lead Time
  • Case Studies in Demand Planning and Inventory Management

Learning Outcome

  • Explain demand planning concepts and impact of external factors on demand trends.
  • Examine various forecasting models, including qualitative and quantitative methods, to identify trends and patterns that influence demand forecasts.
  • Show the importance of big data analytics to enhance planning decisions.
  • Analyse optimal inventory policies under known and unknown demand scenarios.
  • Apply demand planning and forecasting techniques that ensure business continuity in unpredictable environments.
  • Describe demand planning strategies that can minimise the carbon footprint of supply chain activities.