ECONOMICS AND FINANCE | |||||
Bachelor | TR-NQF-HE: Level 6 | QF-EHEA: First Cycle | EQF-LLL: Level 6 |
Course Code | Course Name | Semester | Theoretical | Practical | Credit | ECTS |
LOG4436 | Inventory and Warehouse Management | Spring Fall |
3 | 0 | 3 | 6 |
This catalog is for information purposes. Course status is determined by the relevant department at the beginning of semester. |
Language of instruction: | English |
Type of course: | Non-Departmental Elective |
Course Level: | Bachelor’s Degree (First Cycle) |
Mode of Delivery: | Face to face |
Course Coordinator : | Prof. Dr. YAVUZ GÜNALAY |
Recommended Optional Program Components: | None |
Course Objectives: | Students learn to analytically solve problems and make decision considering forecasting, inventory planning and service levels, profitability, product range, supply chain dynamics, facility location, distribution, and routing. |
The students who have succeeded in this course; The course provides an integrated methodology for strategy based inventory and product management in supply chains. |
Course introduction, Measures in logistics, ABCD analysis, Activity based costing, Du Pont -model, Turnover, Modeling in logistics, Trend adjustment: Holt’s method, Trend and seasonal variation adjustment: Winter’s model, optimizing the parameters for the above methods, Stochastic demand, Safety stocks, Single products with time-variable demand, dynamic programming, Wagner-Whitin method, Silver-Meal heuristics, Time supply, Lot- forlot, Least unit cost, Part-period balancing, Heuristics, Yield Management – stochastic demand, Bullwhip effect, Deterministic demand, Probabilistic demand, Arborescent system, Supply chain contracts, Distribution requirements planning, Multioperiod production planning, Repair crew planning. |
Week | Subject | Related Preparation |
1) | Course introduction, Measures in logistics, ABCD analysis | |
2) | Activity based costing | |
3) | Du-Pont Model, Turnover, Modeling in Logistics | |
4) | Trend adjustment: Holt’s method, Trend and seasonal variation adjustment: Winter’s model, optimizing the parameters for the above methods | |
5) | Stochastic demand, Safety stocks, Single products with time-variable demand, dynamic programming | |
6) | Wagner-Whitin method, Silver-Meal heuristics, Time supply, Lot- forlot, Least unit cost, Part-period balancing, Heuristics | |
7) | Yield Management – stochastic demand | |
8) | Midterms Week | |
9) | Bullwhip effect, Deterministic demand, Probabilistic demand, Arborescent system, Supply chain contracts, Distribution requirements planning | |
10) | Multioperiod production planning, Repair crew planning | |
11) | Case Capacent - preparation | |
12) | Case Capacent feedback session | |
13) | Course Wrapup; Case Sport Obermeyer feedback session | |
14) | Finals Week |
Course Notes / Textbooks: | Silver, Edward A. (1998) Inventory management and production planning and scheduling. ISBN 0-471-11947-4. |
References: | Ders Notları - Lecture material and course reading package. |
Semester Requirements | Number of Activities | Level of Contribution |
Homework Assignments | 5 | % 30 |
Midterms | 1 | % 30 |
Final | 1 | % 40 |
Total | % 100 | |
PERCENTAGE OF SEMESTER WORK | % 60 | |
PERCENTAGE OF FINAL WORK | % 40 | |
Total | % 100 |
Activities | Number of Activities | Duration (Hours) | Workload |
Course Hours | 14 | 3 | 42 |
Study Hours Out of Class | 14 | 3 | 42 |
Homework Assignments | 5 | 12 | 60 |
Midterms | 1 | 2 | 2 |
Final | 1 | 2 | 2 |
Total Workload | 148 |
No Effect | 1 Lowest | 2 Low | 3 Average | 4 High | 5 Highest |
Program Outcomes | Level of Contribution | |
1) | Build up a body of knowledge in mathematics and statistics, to use them, to understand how the mechanism of economy –both at micro and macro levels – works. | 3 |
2) | Understand the common as well as distinctive characters of the markets, industries, market regulations and policies. | 2 |
3) | Develop an awareness of different approaches to the economic events and why and how those approaches have been formed through the Economic History and understand the differences among those approaches by noticing at what extent they could explain the economic events. | 1 |
4) | Analyze the interventions of politics to the economics and vice versa. | 3 |
5) | Apply the economic analysis to everyday economic problems and evaluate the policy proposals for those problems by comparing opposite approaches. | 2 |
6) | Understand current and new economic events and how the new approaches to the economics are formed and evaluating. | 2 |
7) | Develop the communicative skills in order to explain the specific economic issues/events written, spoken and graphical form. | 3 |
8) | Know how to formulate the economics problems and issues and define the solutions in a well-formed written form, which includes the hypothesis, literature, methodology and results / empirical evidence. | 2 |
9) | Demonstrate the quantitative and qualitative capabilities and provide evidence for the hypotheses and economic arguments. | 2 |
10) | Understand the information and changes related to the economy by using a foreign language and communicate with colleagues. | 3 |