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 ÌÇÐÄvlog¹ÙÍø¹Û¿´ work can be leveraged if accepted into a degree program at https://degrees.giesbusiness.illinois.edu/idegrees/.
Service Level, Operations Management, Supply Chain, Process Design, Business Strategy, Process Analysis, Cost Benefit Analysis, Organizational Strategy, Demand Planning, Inventory Management System, Operational Analysis, Decision Making, Strategic Decision-Making, Manufacturing Operations, Capacity Management, Business Operations
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4.7 (1,229 ratings)
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AB
May 3, 2020
THANK YOU UDATTA PALEKAR SIR FOR SUCH A BEAUTIFUL INSIGHT COURSE. MAKING EACH AND EVERY CONCEPT CLEAR. LOVED IT. ITS MORE THAN PERFECT I WOULD RECOMMEND EVERYONE TO TAKE THIS BEAUTIFUL JOURNEY!!!
GM
Aug 22, 2023
Great content and learning session. Course is designed in very excellent manner. Thanks to Mr. Gopesh Anand Sir and Mukharjee Sir. They have well explained and made sample such a tough subject.
From the lesson
Inventory Management Concepts
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