Syllabus

• Foundation to Operations Management Analytics

  Introduction to Concepts, Tools, Techniques, and Analytics

  Traditional and Advanced Production Systems

  Need for Product Re-design and Development

• Production and Capacity Planning

  Chase and production level strategy

  Mixed strategy

  Capacity management (CPOF and Capacity Bill, Resource profile)

• Maintenance and Queue Management

  Preventive and proactive maintenance policy

  Queue planning (M/M/1, M/M/S, M/D/1 models for jobs queue management)

• Quality and Six Sigma in Operations

  Six-Sigma process in operations

  Quality control charts (X and R-Charts, p & np charts)

• Inventory Management

  Types of Inventory costs

  EOQ/POQ/PPB models

  Multi-criteria ABC Analysis

• Materials Resource Planning

  MRP Construction

  MRP Nervousness

  This module will provide insights to construct MRP tables for dynamic/fluctuating product demand. The MRP table provides time scheduling information about when and how much the material needs to procure (order) to meet the market demand of the final product. MRP table will integrate the inventory models discussed in Model VII (Inventory Management) to optimize the ordering policy. Finally, MRP table would help inventory managers to procure inventory at the right time in the right quantity at minimum inventory procurement cost.

• Forecasting and Demand Management

  Time series models (Exponential, Adjusted Exponential, Winter-holt model)

  Regression (Linear trend model)

• Predictive Analytics

  Demand forecasting

  Business Simulation in Operations

  This module will provide the use of various forecasting models discussed in Module II (Forecasting and Demand Management) using R and Excel for past sales data. This will help the sales managers/decision makers to estimate the best demand forecast with minimum forecast error keeping the highest level of forecasting accuracy. At the end, this module will enable the participants the application of R and Excel using various forecasting models to predict future demand.

• Descriptive Analytics

  Vendors selection and evaluation

  Risk Mitigation in operations

  This module will provide the application of various MCDM (Multi Criteria Decision Making) tools and techniques for vendor/ machine/ parts/ product design selection for medium and long term decisions for industry. In addition, the participants will also learn the risk mitigation in supply chain using MCDM. Some of the MCDM techniques covered here are ISM, AHP, and TOPSIS. Finally, this module will help managers/ decision makers in short, medium and long term decisions such as which vendor(s) to be selected for short/medium/ long term duration, and similarly how to mitigate operational risks in the supply chain.

• Facility Planning and Project Management

  Product, process, fixed and cellular layout

  CPM and PERT analysis of project

• Predictive Analytics

  Production Management

  Facility Layout Planning

  This module will provide the learning on linear programming models for an optimal utilization of resources in single and multiple period production planning. The module will also cover the impact of market fluctuation on the production cost and its profit. The module will also provide the application of linear models on the optimal design of manufacturing layout to minimize material handling cost which in long run helps in minimizing the manufacturing cost. Finally, the module helps operations managers to make use of this analytics in layout and production planning.