Facts about the course

Study points:
7.5
Responsible department:
Faculty of Logistics
Course Leader:
Arild Hoff
Lecture Semester:
Autumn
Teaching language:
English
Duration:
½ year

LOG722 Inventory Management (Autumn 2019)

About the course

The course will discuss inventory management principles and models both for fixed rate (deterministic) and uncertain (stochastic) demand. The models aim to develop ordering policies which balance the different types of costs such as ordering, holding and stock-out costs in various situations. Stochastic problems include the one-periodic News vendor problem and multi-period (Q,R)-models where order size and reorder point should be determined simultaneously. Emphasis will be placed on differentiation of products according to an ABC-analysis where different policies can be developed for different product types. Special models are presented for treating slow-moving and expensive articles.

The course is connected to the following study programs

Recommended requirements

The same as for the MSc program in logistics

The student's learning outcomes after completing the course

The course focuses on problems in management of inventory. Extensive quantitative models will be presented and used in the formulation and solution of logistical problems.

The successful student should to be able to identify, analyse and solve problems within the mentioned field and also be able to evaluate the solutions to such problems.

Forms of teaching and learning

3 hours of lectures per week.

Coursework requirements - conditions for taking the exam

  • Mandatory coursework: Assignment(s)
  • Courseworks given: 2
  • Courseworks required: 2
  • Presence: Not required
  • Comment:

Examination

  • Form of assessment: Written school assessment
  • Proportion: 80%
  • Duration: 5 Hours
  • Grouping: Individual
  • Grading scale: Letter (A - F)
  • Support material: Calculator that may contain data + general dictionary in mother tongue/Norwegian/English in paper version
  • Form of assessment: Home assessment
  • Proportion: 10%
  • Duration: -
  • Grouping: Group
  • Grading scale: Letter (A - F)
  • Support material: All printed and written supporting material + calculator that may contain data
  • Form of assessment: Home assessment
  • Proportion: 10%
  • Duration: -
  • Grouping: Group
  • Grading scale: Letter (A - F)
  • Support material: All printed and written supporting material + calculator that may contain data

Syllabus

Click here for reading list

Last updated from FS (Common Student System) Dec. 11, 2019 3:30:18 AM