Supply Chains for Manufacturing: Inventory Analytics from edX

A supply chain entails two or more parties that are linked together by material, information and money flows. The management of a supply chain attempts to coordinate the activities of the parties so that merchandise is produced and distributed at the right quantities, to the right locations, and at the right time, in order to minimize system-wide costs while satisfying service level requirements.

As part of the Principles of Manufacturing MicroMasters program, this course will expose learners to concepts and models important in supply chain and manufacturing system planning,so that you canbettercoordinatevarious resources and assets to optimize the delivery of goods, with an emphasis on key tradeoffs and phenomena. There will be a particular emphasis on how to cope with variability as it arises across a supply chain. The course will introduce a set of operational tactics for dealing with supply chain variability, including:

Risk pooling
Inventory placement
Integrated planning and collaboration
Information sharing
Delayed differentation
Dual sourcing
Smoothing

Lectures, computer exercises, and case discussions introduce various models and methods for supply chain analysis and optimization.

Develop the engineering and management skills needed for competence and competitiveness in today’s manufacturing industry with the Principles of Manufacturing MicroMasters Credential, designed and delivered by MIT's #1-ranked Mechanical Engineering departmentin the world. Learners who pass the 8 courses in the program earn the MicroMasters Credential and qualify to apply to gain credit for MIT’s Master of Engineering in Advanced Manufacturing & Design program.

What's inside

Learning objectives

Concepts and models for effective supply chain and manufacturing system planning
Operational tactics for managing variability

Integrated planning and collaboration

Concepts and models for effective supply chain and manufacturing system planning
Operational tactics for managing variability
Integrated planning and collaboration

Good to know

Know what's good

, what to watch for

, and possible dealbreakers

Teaches fundamental principles of supply chain management

Builds skills in operational tactics for managing variability in supply chains

Strengthens skills in integrated planning and collaboration in supply chain management

Concepts and models taught are relevant to real-world challenges in manufacturing

Provides opportunities for hands-on practice through exercises and case discussions

Taught by renowned faculty from MIT's Mechanical Engineering Department

Activities

Be better prepared before your course. Deepen your understanding during and after it. Supplement your coursework and achieve mastery of the topics covered in Supply Chains for Manufacturing: Inventory Analytics with these activities:

Review of Manufacturing and Production Processes

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Reinforce your understanding of manufacturing and production processes to enhance your comprehension of supply chain management.

Browse courses on Manufacturing Processes

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Review course materials and textbooks from previous courses in manufacturing or production.
Participate in online forums or discussions on manufacturing topics.

Lean Six Sigma for Supply Chain Improvement

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Develop skills in Lean Six Sigma methodologies to identify and eliminate waste and inefficiencies in supply chain operations.

Browse courses on Lean Six Sigma

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Enroll in online tutorials or courses on Lean Six Sigma.
Apply Lean Six Sigma tools and techniques to analyze supply chain processes.
Identify and prioritize areas for improvement.
Develop and implement solutions to reduce waste and enhance efficiency.

Supply Chain Simulation Workshop

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Engage in an interactive workshop where you can simulate real-world supply chain scenarios and learn through hands-on experience.

Browse courses on Interactive Learning

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Participate in a supply chain simulation workshop.
Work in teams to manage supply chain operations and respond to challenges.
Analyze the results of the simulation and identify areas for improvement.

Three other activities

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Supply Chain Simulations

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Utilize simulations to test and refine your understanding of supply chain concepts and models.

Browse courses on Supply Chain Management

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Identify and gather relevant data and parameters for the simulation.
Configure and operate the simulation using appropriate software or tools.
Analyze the results of the simulation, identify patterns, and draw conclusions.
Refine the model and parameters based on the simulation outcomes.
Use the simulation to test different scenarios and evaluate alternative supply chain strategies.

Supply Chain Design and Optimization Plan

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Apply your understanding of supply chain management principles to design and optimize a real-world supply chain.

Browse courses on Supply Chain Design

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Define the scope and objectives of the project.
Gather and analyze data on existing supply chain operations.
Identify inefficiencies, bottlenecks, and potential improvements.
Design and evaluate alternative supply chain configurations and strategies.
Develop an implementation plan for the optimized supply chain.

Supply Chain Case Study Analysis

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Analyze real-world supply chain case studies to learn from successful strategies and challenges encountered.

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Identify and gather relevant case studies.
Analyze the case studies, focusing on key supply chain concepts and challenges.
Identify best practices and potential lessons learned.
Create a written or multimedia analysis of the case studies, sharing your insights and recommendations.

Career center

Learners who complete Supply Chains for Manufacturing: Inventory Analytics will develop knowledge and skills that may be useful to these careers:

Supply Chain Manager

As a Supply Chain Manager, you will be responsible for overseeing the flow of goods and services from suppliers to customers. You will need to have a deep understanding of supply chain management principles and practices, as well as the ability to analyze data and make decisions. This course will provide you with the knowledge and skills you need to succeed in this role. You will learn about concepts such as risk pooling, inventory placement, and integrated planning, which are all essential for effective supply chain management.

See salaries and explore the career path for Supply Chain Manager

Operations Manager

As an Operations Manager, you will be responsible for overseeing the day-to-day operations of a manufacturing or production facility. You will need to have a strong understanding of manufacturing processes and principles, as well as the ability to manage a team of employees. This course will provide you with the knowledge and skills you need to succeed in this role. You will learn about concepts such as inventory management, production planning, and quality control, which are all essential for effective operations management.

See salaries and explore the career path for Operations Manager

Logistics Manager

As a Logistics Manager, you will be responsible for planning and executing the movement of goods and materials. You will need to have a deep understanding of logistics principles and practices, as well as the ability to manage a team of employees. This course will provide you with the knowledge and skills you need to succeed in this role. You will learn about concepts such as transportation management, warehousing, and inventory management, which are all essential for effective logistics management.

See salaries and explore the career path for Logistics Manager

Procurement Manager

As a Procurement Manager, you will be responsible for sourcing and purchasing goods and services for a company. You will need to have a deep understanding of procurement principles and practices, as well as the ability to negotiate contracts. This course will provide you with the knowledge and skills you need to succeed in this role. You will learn about concepts such as supplier management, contract management, and inventory management, which are all essential for effective procurement management.

See salaries and explore the career path for Procurement Manager

Demand Planner

As a Demand Planner, you will be responsible for forecasting demand for a company's products or services. You will need to have a deep understanding of demand planning principles and practices, as well as the ability to analyze data and make decisions. This course will provide you with the knowledge and skills you need to succeed in this role. You will learn about concepts such as forecasting methods, demand modeling, and inventory management, which are all essential for effective demand planning.

See salaries and explore the career path for Demand Planner

Inventory Analyst

As an Inventory Analyst, you will be responsible for managing a company's inventory levels. You will need to have a deep understanding of inventory management principles and practices, as well as the ability to analyze data and make decisions. This course will provide you with the knowledge and skills you need to succeed in this role. You will learn about concepts such as inventory control, inventory forecasting, and inventory optimization, which are all essential for effective inventory management.

See salaries and explore the career path for Inventory Analyst

Production Planner

As a Production Planner, you will be responsible for planning and scheduling the production of a company's products or services. You will need to have a deep understanding of production planning principles and practices, as well as the ability to analyze data and make decisions. This course will provide you with the knowledge and skills you need to succeed in this role. You will learn about concepts such as production scheduling, capacity planning, and inventory management, which are all essential for effective production planning.

See salaries and explore the career path for Production Planner

Manufacturing Engineer

As a Manufacturing Engineer, you will be responsible for designing and implementing manufacturing processes. You will need to have a deep understanding of manufacturing engineering principles and practices, as well as the ability to analyze data and make decisions. This course will provide you with the knowledge and skills you need to succeed in this role. You will learn about concepts such as process design, production planning, and quality control, which are all essential for effective manufacturing engineering.

See salaries and explore the career path for Manufacturing Engineer

Quality Control Manager

As a Quality Control Manager, you will be responsible for ensuring that a company's products or services meet quality standards. You will need to have a deep understanding of quality control principles and practices, as well as the ability to analyze data and make decisions. This course will provide you with the knowledge and skills you need to succeed in this role. You will learn about concepts such as quality control methods, quality assurance, and statistical process control, which are all essential for effective quality control management.

See salaries and explore the career path for Quality Control Manager

Industrial Engineer

As an Industrial Engineer, you will be responsible for designing and implementing systems to improve productivity and efficiency. You will need to have a deep understanding of industrial engineering principles and practices, as well as the ability to analyze data and make decisions. This course will provide you with the knowledge and skills you need to succeed in this role. You will learn about concepts such as work measurement, process improvement, and ergonomics, which are all essential for effective industrial engineering.

See salaries and explore the career path for Industrial Engineer

Business Analyst

As a Business Analyst, you will be responsible for analyzing and improving business processes. You will need to have a deep understanding of business analysis principles and practices, as well as the ability to analyze data and make decisions. This course may be useful in developing your analytical skills and knowledge of business processes.

See salaries and explore the career path for Business Analyst

Data Analyst

As a Data Analyst, you will be responsible for collecting, analyzing, and interpreting data. You will need to have a deep understanding of data analysis principles and practices, as well as the ability to communicate your findings effectively. This course may be useful in developing your analytical skills and knowledge of data analysis techniques.

See salaries and explore the career path for Data Analyst

Project Manager

As a Project Manager, you will be responsible for planning, executing, and closing projects. You will need to have a deep understanding of project management principles and practices, as well as the ability to lead and motivate a team. This course may be useful in developing your leadership skills and knowledge of project management techniques.

See salaries and explore the career path for Project Manager

Consultant

As a Consultant, you will be responsible for providing advice and guidance to clients on a variety of business issues. You will need to have a deep understanding of business principles and practices, as well as the ability to analyze data and make decisions. This course may be useful in developing your analytical skills and knowledge of business processes.

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Teacher

As a Teacher, you will be responsible for educating students in a variety of subjects. You will need to have a deep understanding of the subject matter, as well as the ability to communicate effectively. This course may be useful in developing your communication skills and knowledge of educational methods.

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Supply Chains for Manufacturing

Inventory Analytics

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