Inventory Management and Control ====== Course length ====== This course is one-week long. ====== Marks overview ====== * Assignment 1 25% * Assignment 2 25% * Daily activities 10% * Final exam 40% ====== Textbook ====== * See [[textbooks#inventory_management_and_control | Inventory Mgmt and Control]] ====== Assignment 1 ====== * Details of the case study for [[inventory_mgmt_assignment_1 | assignment 1]] * Due on Day 3, 25% of the final ====== Assignment 2 ====== * Details of the case study for [[inventory_mgmt_assignment_2 | assignment 2]] * Due on Day 5, 25% of the final ====== Valuable resources ====== ++++We might use these throughout the course| * For statistics, tools, country indicators, Project Mgmt tutorials and courses, etc. see **[[resources]]** * [[https://tradingeconomics.com/canada/changes-in-inventories | Canada Changes in Inventories]] ++++ ---- ====== Day 1 ====== ===== Learning Objectives ===== * The Importance of Inventories * Managing Inventory * Inventory Counts ===== Index ===== * Chapter 12 pages 468-474 — //[[textbooks#operations_management | Operations Management]]//((I’ll call this book OM in this document.)) ++++Extras | ===== Videos to watch ===== - [[https://youtu.be/zERrqLFotSY | Amazon Inventory Management]] - [[https://youtu.be/dAXdeqcHBp4 | Amazon receives your inventory]] - [[https://youtu.be/qRQwkJLRfWw | Inside An Amazon Warehouse On Cyber Monday]] - [[https://youtu.be/gt9GSw7UGl4 | How Amazon.com Migrates Inventory Management Systems]] - [[https://youtu.be/AKCJsvZdBmI | Amazon’s Robotic Empire: Jeff Bezos’ Smart Warehouses]] - [[https://youtu.be/KxHURuy5Xfk | How Amazon Robots Work - Young Engineering]] (more details regarding the previous video) ===== Recommended articles ===== * [[https://innovecs.com/blog/warehouse-optimization-tips/ | Warehouse Optimization Tips To Enhance Your Revenue Stream]] * [[https://innovecs.com/blog/warehouse-inventory-management-system/ | How To Build An Effective Warehouse Inventory Management System]] * [[https://innovecs.com/blog/warehouse-management-software/ | How Warehouse Management Software Contributes to Supply Chain and Logistics Processes]] * [[https://innovecs.com/blog/warehouse-robots-improving-inventory-count/ | Developing Warehouse Robots to Improve Inventory Cycle Count]] * [[https://innovecs.com/blog/improving-warehouse-efficiency/ | Improving Warehouse Efficiency: Let’s Get Back to Basics]] ++++ ---- ====== Day 2 ====== ===== Learning Objectives ===== * The Pareto Principle * The Quadrant Model * Inventory at Multiple Locations ===== Index ===== * Chapter 12, p. 472 — OM * Chapter 5, pp. 142-144 — //[[textbooks#demand_planning | Supply Chain Management]]//((I’ll call this book SCM in this document.)) * Chapter 9, pp. 350-351 — SCM ++++Extras | ===== Videos to watch ===== * [[https://youtu.be/ZV64ERGvbjE | What No One Tells You About Inventory Management - DropShip - Jeremy Hanks]] * [[https://youtu.be/Y-lBvI6u_hw| Behind the scenes of an Amazon warehouse]] * [[https://youtu.be/FBl4Y55V2Z4 | Inside Alibaba’s smart warehouse staffed by robots]] * [[https://youtu.be/4DKrcpa8Z_E| Inside A Warehouse Where Thousands Of Robots Pack Groceries]] ===== Recommended article ===== * [[https://www.cidrap.umn.edu/resilient-drug-supply/drug-shortages-have-worsened-and-may-only-increase-future-experts-say | Drug shortages have worsened and may only increase in the future, experts say]] - May 11, 2023 ++++ ---- ====== Day 3 ====== ===== Learning Objectives ===== * Stockout Costs * Holding Costs * Ordering Costs * Setup Costs * Minimizing Costs ===== Index ===== * Chapter 12, pp. 478-480 — OM * Chapter 9, pp. 303, 305-306 — SCM * Chapter 8, p. 261 — SCM ++++Extras | ===== Videos to watch ===== - [[https://www.youtube.com/watch?v=vIcDqs5GLNw|Global chip shortage: How microchips became one of the worlds most precious resources]] - [[https://www.youtube.com/watch?v=sfAyXjRFUJk | How The Global Computer Chip Shortage Happened]] - [[https://www.youtube.com/watch?v=deB1WTLOVns|Why Tiny Microchips Are Crippling The Global Auto Industry And Driving Up Prices]] - [[https://www.youtube.com/watch?v=qhafjMS0Ffk|Bosch opens Dresden chip plant as Europe aims for independence from Asia]] | DW News - [[https://www.youtube.com/watch?v=2GCxf9prpmc|Chip shortages and electric transformation put traditional carmakers under pressure]] | DW News - [[https://www.youtube.com/watch?v=GU87SH5e0eI|Secretive Giant TSMC’s $100 Billion Plan To Fix The Chip Shortage]] - [[https://www.youtube.com/watch?v=PtSSoZW19vs|Inside Intel’s Bold $26 Billion U.S. Plan To Regain Chip Dominance]] - [[https://www.youtube.com/watch?v=YEtu9JbDih0|Why is There a Global Chip Shortage?]] - [[https://www.youtube.com/watch?v=0Fq86v3nz2o|Production cuts and market losses: Carmakers struggle with lasting chip shortage]] | DW News ++++ ---- ====== Day 4 ====== ===== Learning Objectives ===== * Dependent vs. Independent Demand * Pull vs. Push * Centralized / De-centralized * Fixed Order Quantities * Fixed Order Intervals * Distribution Cost Trade-offs ===== Index ===== * Chapter 2, p. 43 — SCM * Chapter 3, p. 65 — SCM * Chapter 6, p. 186 — SCM (p. 554 in OP) * Chapter 7, p. 213 — SCM * Chapter 9, pp. 313-315, 316, 325, and 332 — SCM * Chapter 10, pp. 380-385 — SCM ++++Extras | ===== Open-source book chapters ===== * [[https://ecampusontario.pressbooks.pub/globalvaluechain/chapter/5-4-learning-objective-3/|Demand Planning, Inventory Management & Control]] * [[https://pressbooks.pub/supplychainmanagement3005/chapter/15-1-introduction/|Logistics Management - Warehousing]] ===== Video to watch ===== * [[https://youtu.be/7aYHKq3pwfE | Amazon airship: Amazon patents unmanned airship to launch its delivery drones - TomoNews]] * [[https://youtu.be/8nKPC-WmLjU | Amazon Fulfillment Center Tour with AWS]] ++++