ABOUT THE COURSE:The course is designed to impart knowledge of operations analytics to managers. By the end of this course, learners will be able to: learn the fundamentals of operations analytics, understand decision making under uncertainty in businesses, discover various aspects of Revenue Management and delve into multi criteria decision making techniques.INTENDED AUDIENCE: Learners of master’s or PhD degree whose course curriculum includes study on various aspects of Operations, business analytics and Revenue ManagementLearners of other discipline who are interested in Operations Analytics and its role in managing the business resources.Working Professionals who want to learn various aspects of operations analytics and data-driven decision making.PREREQUISITES: Basic StatisticsSupply Chain AnalyticsINDUSTRY SUPPORT: All organizations in the area of Operations, Supply Chain Management, Logistics, Business analytics and Decision Sciences will benefit from this course.
Overview
Syllabus
Week 1 :
Lec 01 Operations Analytics: IntroductionLec 02 Operations Analytics ApplicationsLec 03 Descriptive AnalyticsLec 04 Predictive Analytics: Forecasts based on historical demand dataLec 05 Predictive Analytics: Exponential Smoothing and Regression Analysis
Week 2:
Lec 06 Predictive Analytics: Estimation of Errors in ForecastingLec 07 Exponential Smoothing with Trend and SeasonalityLec 08 Exponential Smoothing (Winter’s Model)Lec 09 Inventory Management and UncertaintiesLec 10 Managing Uncertainty through Safety Inventory
Week 3:
Lec 11 Supply Uncertainty, Quantity Discounts and Production Lot SizingLec 12 Decision Making under Uncertainty: Decision TreeLec 13 Decision Tree ExampleLec 14 Monte Carlo Simulation for Inventory ManagementLec 15 Newsvendor problem: Optimal Stocking Quantity in a Single Period
Week 4:
Lec 16 Optimal Stocking Quantity in a Single Period: ContinuedLec 17 Optimal Product Availability in Continuous StockingLec 18 Material Requirements PlanningLec 19 Material Requirements Planning (Continued)Lec 20 Improvements in Material Requirements Planning
Week 5:
Lec 21 Pricing and Revenue Management: IntroductionLec 22 Levels and Strategy of Revenue ManagementLec 23 Case of Constrained Supply – Part -ALec 24 Case of Constrained Supply – Part-BLec 25 Booking Control and Nesting
Week 6:
Lec 26 Managing Cancellations and Two- Class modelLec 27 Capacity AllocationLec 28 Capacity Allocation: Two-class and Multiclass ModelsLec 29 Multiclass Models: EMSR-a and EMSR-bLec 30 EMSR-a and EMSR-b: Illustration on Excel
Week 7:
Lec 31 Network ManagementLec 32 Network Management: Virtual NestingLec 33 Network Management: Virtual Nesting IllustrationLec 34 OverbookingLec 35 Overbooking Polices
Week 8:
Lec 36 Revenue Management and Price BasedLec 37 Single- Product Dynamic Pricing Without ReplenishmentLec 38 AuctionsLec 39 Markdown PricingLec 40 Markdown Pricing and Conclusion
Lec 01 Operations Analytics: IntroductionLec 02 Operations Analytics ApplicationsLec 03 Descriptive AnalyticsLec 04 Predictive Analytics: Forecasts based on historical demand dataLec 05 Predictive Analytics: Exponential Smoothing and Regression Analysis
Week 2:
Lec 06 Predictive Analytics: Estimation of Errors in ForecastingLec 07 Exponential Smoothing with Trend and SeasonalityLec 08 Exponential Smoothing (Winter’s Model)Lec 09 Inventory Management and UncertaintiesLec 10 Managing Uncertainty through Safety Inventory
Week 3:
Lec 11 Supply Uncertainty, Quantity Discounts and Production Lot SizingLec 12 Decision Making under Uncertainty: Decision TreeLec 13 Decision Tree ExampleLec 14 Monte Carlo Simulation for Inventory ManagementLec 15 Newsvendor problem: Optimal Stocking Quantity in a Single Period
Week 4:
Lec 16 Optimal Stocking Quantity in a Single Period: ContinuedLec 17 Optimal Product Availability in Continuous StockingLec 18 Material Requirements PlanningLec 19 Material Requirements Planning (Continued)Lec 20 Improvements in Material Requirements Planning
Week 5:
Lec 21 Pricing and Revenue Management: IntroductionLec 22 Levels and Strategy of Revenue ManagementLec 23 Case of Constrained Supply – Part -ALec 24 Case of Constrained Supply – Part-BLec 25 Booking Control and Nesting
Week 6:
Lec 26 Managing Cancellations and Two- Class modelLec 27 Capacity AllocationLec 28 Capacity Allocation: Two-class and Multiclass ModelsLec 29 Multiclass Models: EMSR-a and EMSR-bLec 30 EMSR-a and EMSR-b: Illustration on Excel
Week 7:
Lec 31 Network ManagementLec 32 Network Management: Virtual NestingLec 33 Network Management: Virtual Nesting IllustrationLec 34 OverbookingLec 35 Overbooking Polices
Week 8:
Lec 36 Revenue Management and Price BasedLec 37 Single- Product Dynamic Pricing Without ReplenishmentLec 38 AuctionsLec 39 Markdown PricingLec 40 Markdown Pricing and Conclusion
Taught by
Prof. Rajat Agrawal
