Facts about the course
- ECTS Credits:
- 7.5
- Responsible department:
- Faculty of Logistics
- Course Leader:
- Arild Hoff
- Lecture Semester:
- Autumn
- Teaching language:
- English
- Duration:
- ½ year
LOG500 Management models in logistics (Autumn 2024)
About the course
The course describes simple models for different parts of the supply chain and is a continuation of topics treated in SCM200. Models for managing the individual links in the value chain will be emphasized. The course will focus on problems in forecasting, distribution, inventory and production planning and operations scheduling. Within production, major production planning and management principles from MRP I (Material Requirements Planning) will be taught. Within aggregated production planning, the classical models are explained. Within inventory management, the course treats deterministic models for families of goods, limitation of resources, discounts and some stochastic inventory models. Further, lot-sizing is discussed as a single topic, and also forecasting models and simple scheduling. Several quantitative models for the topics mentioned will be presented and used explicitly in formulations and for solving actual problems.
The course is connected to the following study programs
- Bachelor in Logistics and Supply Chain Management
- Bachelor in Economics and Business Administration
- Individual Study Courses/Part- time studies
- Bachelor in Petroleum Logistics and Economics
- Bachelor in IT and Digitalization
- Årsstudium for Sjøkrigsskolen
- Exchange programme - Bachelor's level
Recommended requirements
Basic economics or logistics education. Courses similar to SCM200 - Inventory and production management. It is an advantage to be able to use Excel spreadsheets in order to solve assignments and partial exams.
Reduction of Credits
This course’s contents overlap with the following courses. A reduction of credits will occur if one of these courses is taken in addition:
| Course | Reduction of Credits |
|---|---|
| LOG502 – Management Models in Logistics Ia | 7.5 |
The student's learning outcomes after completing the course
Knowledge:
The student should know about:
- Different forecasting models for static, trend-based and seasonal-based demand.
- Aggregated production planning
- Principles for inventory management for deterministic and stochastic demand.
- Production philosophies JIT (Just in Time) and MRP (Materials Requirements Planning).
- Scheduling of operations for meeting different priorities.
Skills:
The student should be able to:
- Use forecasting techniques like regression and exponential smoothing.
- Create aggregated production plans.
- Calculate order sizes and frequencies in cases with deterministic demand.
- Calculate order sizes and safety stock in cases with stochastic demand.
- Use classical heuristics for estimating lot sizes.
- Use simple scheduling rules for operation meeting different objectives.
General competence:
The student should be able to analyze problems appearing in different parts of the supply chain of a company, and use classical models to solve such problems.
Coursework requirements - conditions for taking the exam
- Mandatory coursework: Assignment(s)
- Courseworks given: 1
- Courseworks required: 1
- Presence: Not required
- Comment:
Examination
- Form of assessment: School assessment
- Proportion: 80%
- Duration: 5 hours
- Grouping: Individual
- 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: 4 weeks
- 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: 4 weeks
- Grouping: Group
- Grading scale: Letter (A - F)
- Support material: All printed and written supporting material + calculator that may contain data