| INDUSTRIAL ENGINEERING | |||||
| Bachelor | TR-NQF-HE: Level 6 | QF-EHEA: First Cycle | EQF-LLL: Level 6 | ||
| Course Code | Course Name | Semester | Theoretical | Practical | Credit | ECTS |
| INE4207 | Inventory Planning and Control | Spring | 3 | 0 | 3 | 6 |
| The course opens with the approval of the Department at the beginning of each semester |
| Language of instruction: | En |
| Type of course: | Departmental Elective |
| Course Level: | Bachelor |
| Mode of Delivery: | Face to face |
| Course Coordinator : | Dr. Öğr. Üyesi TUĞCAN DEMİR |
| Course Lecturer(s): |
Instructor ÖZLEM KANGA |
| Course Objectives: | In this course students will find insightful discussions about the role of inventory in organizations and core concepts of inventory management. This course gives detailed explanations about fundamental inventory control procedures and their usage. The objective of this course are to provide students with • a through understanding of basic inventory models • mathematical models used to analyze and optimize inventory systems • various application areas of inventory models through case studies and relevant examples. |
|
The students who have succeeded in this course; I. State the reasons for keeping inventory in an organization II. Describe the key performance indicators used to evaluate the performance of inventory managers. Calculate inventory turnover rate, return-on-assets III. Illustrate inventory – time graph IV. Calculate average inventory and backorder from the inventory-time graph V. Calculate economic order quantity VI. Calculate economic order quantity with discounts or backorders or inflation VII. Describe a reorder-point order quantity policy VIII. Measure the performance of an inventory policy with given reorder point and order quantity IX. Find optimal reorder point X. Describe order-up-to-level policy. Measure its performance and find the optimal order-up-to level XI. Describe the differences between periodic and continuous review systems XII. Find the optimal order quantity for a newsvendor model |
| Inventory control concepts, Economic order quantity (EOQ), EOQ with backorders, EOQ with inflation, EOQ with delayed payment, EOQ with discounts, Safety stock, rorder point order quantity policies, backorders costs, service levels, base stock models, periodic review inventory control systems, newvendor model. |
| Week | Subject | Related Preparation | |
| 1) | State the reasons for keeping inventory in an organization. | ||
| 2) | Describe the key performance indicators used to evaluate the performance of inventory managers. Calculate inventory turnover rate, return-on-assets. | ||
| 3) | Illustrate inventory – time graph. | ||
| 4) | Calculate average inventory and backorder from the inventory-time graph. | ||
| 5) | Calculate economic order quantity. | ||
| 6) | Calculate economic order quantity with discounts or backorders or inflation. | ||
| 7) | Economic order quantity applications | ||
| 8) | Describe a reorder-point order quantity policy. | ||
| 9) | Measure the performance of an inventory policy with given reorder point and order quantity. | ||
| 10) | Find optimal reorder point. | ||
| 11) | Describe order-up-to-level policy. Measure its performance and find the optimal order-up-tolevel. | ||
| 12) | Describe the differences between periodic and continuous review systems II. | ||
| 13) | Describe the differences between periodic and continuous review systems. | ||
| 14) | Find the optimal order quantity for a newsvendor model. | ||
| Course Notes: | Edward A. Silver, David F. Pyke and Rein Peterson, ”Inventory Management and Production Planning and Scheduling”, 3rd ed. John Wiley and Sons. |
| References: | Donald Waters, ”Inventory Control and Management”, 2nd ed. John Wiley and Sons |
| Semester Requirements | Number of Activities | Level of Contribution |
| Attendance | % 0 | |
| Laboratory | % 0 | |
| Application | 1 | % 10 |
| Field Work | % 0 | |
| Special Course Internship (Work Placement) | % 0 | |
| Quizzes | % 0 | |
| Homework Assignments | 7 | % 15 |
| Presentation | % 0 | |
| Project | % 0 | |
| Seminar | % 0 | |
| Midterms | 2 | % 40 |
| Preliminary Jury | % 0 | |
| Final | 1 | % 35 |
| Paper Submission | % 0 | |
| Jury | % 0 | |
| Bütünleme | % 0 | |
| Total | % 100 | |
| PERCENTAGE OF SEMESTER WORK | % 65 | |
| PERCENTAGE OF FINAL WORK | % 35 | |
| Total | % 100 | |
| Activities | Number of Activities | Duration (Hours) | Workload |
| Course Hours | 14 | 3 | 42 |
| Laboratory | 0 | 0 | 0 |
| Application | 0 | 0 | 0 |
| Special Course Internship (Work Placement) | 0 | 0 | 0 |
| Field Work | 0 | 0 | 0 |
| Study Hours Out of Class | 12 | 8 | 96 |
| Presentations / Seminar | 0 | 0 | 0 |
| Project | 0 | 0 | 0 |
| Homework Assignments | 0 | 0 | 0 |
| Quizzes | 0 | 0 | 0 |
| Preliminary Jury | 0 | 0 | 0 |
| Midterms | 1 | 2 | 2 |
| Paper Submission | 0 | 0 | 0 |
| Jury | 0 | 0 | 0 |
| Final | 1 | 2 | 2 |
| Total Workload | 142 | ||
| 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, science and industrial engineering subjects; use theoretical and applied information in these areas to model and solve complex engineering problems. | |
| 2) | Identify, formulate, and solve complex engineering problems; select and apply proper analysis and modeling methods for this purpose. | |
| 3) | Design a complex system, process, device or product under realistic constraints and conditions, in such a way as to meet the desired result; apply modern design methods for this purpose. The ability to apply modern design methods to meet this objective. | |
| 4) | Devise, select, and use modern techniques and tools needed for solving complex problems in industrial engineering practice; employ information technologies effectively. | |
| 5) | Design and conduct experiments, collect data, analyze and interpret results for investigating the complex problems specific to industrial engineering. | |
| 6) | Cooperate efficiently in intra-disciplinary and multi-disciplinary teams; and show self-reliance when working independently. | |
| 7) | Demonstrate effective communication skills in both oral and written English and Turkish. Writing and understanding reports, preparing design and production reports, making effective presentations, giving and receiving clear and understandable instructions. | |
| 8) | Recognize the need for lifelong learning; show ability to access information, to follow developments in science and technology, and to continuously educate him/herself. | |
| 9) | Develop an awareness of professional and ethical responsibility, and behaving accordingly. Information about the standards used in engineering applications. | |
| 10) | Know business life practices such as project management, risk management, and change management; develop an awareness of entrepreneurship, innovation, and sustainable development. | |
| 11) | Know contemporary issues and the global and societal effects of modern age engineering practices on health, environment, and safety; recognize the legal consequences of engineering solutions. | |
| 12) | Develop effective and efficient managerial skills. |