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Chris Caplice
Supply chains are complex systems involving multiple businesses and organizations with different goals and objectives. Many different analytical methods and techniques are used by researchers and practitioners alike to better design and manage their supply chains. This business and management course introduces the primary methods and tools that you will encounter in your study and practice of supply chains. We focus on the application of these methods, not necessarily the theoretical underpinnings.
Read more
Supply chains are complex systems involving multiple businesses and organizations with different goals and objectives. Many different analytical methods and techniques are used by researchers and practitioners alike to better design and manage their supply chains. This business and management course introduces the primary methods and tools that you will encounter in your study and practice of supply chains. We focus on the application of these methods, not necessarily the theoretical underpinnings.
Read more
Supply chains are complex systems involving multiple businesses and organizations with different goals and objectives. Many different analytical methods and techniques are used by researchers and practitioners alike to better design and manage their supply chains. This business and management course introduces the primary methods and tools that you will encounter in your study and practice of supply chains. We focus on the application of these methods, not necessarily the theoretical underpinnings.
We will begin with an overview of introductory probability and decision analysis to ensure that students understand how uncertainty can be modeled. Next, we will move into basic statistics and regression. Finally, we will introduce optimization modeling from unconstrained to linear, non-linear, and mixed integer linear programming.
This is a hands-on course. Students will use spreadsheets extensively to apply these techniques and approaches in case studies drawn from actual supply chains.
SC0x is different from our other courses as it is self-paced and has a scheduled final exam. All material is made available during the second week, allowing learners to begin with any topic at their own convenience.
Register for this course and see more details by visiting:
OpenCourser.com/course/eewuu1/supply
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What's inside
Learning objectives
- Basic analytical methods
- How to apply basic probability models
- Statistics in supply chains
- Formulating and solving optimization models
- Basic analytical methods
- How to apply basic probability models
- Statistics in supply chains
- Formulating and solving optimization models
Good to know
Good to know
Know what's good ,
what to watch for , and
possible dealbreakers
Focuses on the application of these methods, not necessarily the theoretical underpinnings
Provides case studies drawn from actual supply chains for practical application and context
Taught by Chris Caplice, a seasoned instructor in the field
Self-paced with a scheduled final exam, allowing for flexibility and accomodating various learning styles
Provides a comprehensive overview of analytical methods in supply chains
May require an existing foundation in statistics or probability
Save this course
Save Supply Chain Analytics to your list so you can find it easily later:
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Save
Reviews summary
Mixed reviews for supply chain analytics
According to students, Supply Chain Analytics is a course that may offer some reasonable insights into how marketers think. However, others caution that the course may mislead learners into believing they'll obtain a comprehensive understanding of analytics. The description and explanation of factor analysis is particularly criticized as being of poor quality.
Offers insights into how marketers think.
May mislead learners into believing they'll achieve a strong understanding of analytics.
"do not be misled into believing that you'll achieve a reasonable understanding of analytics."
Explanation of factor analysis is poor.
"The description and explanation of factor analysis, for example, is appallingly bad."
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 Chain Analytics with these
activities:
Review Basic Statistics and Regression
Show steps
Refresh your understanding of statistical concepts essential for supply chain analysis.
Browse courses on
Basic Statistics
Show steps
-
Review your lecture notes or online resources on basic statistics.
-
Complete practice problems on measures of central tendency, dispersion, and probability distribution.
-
Review your lecture notes or online resources on regression analysis.
Case Study Discussion
Show steps
Engage in peer discussions to analyze real-world supply chain case studies and derive practical insights.
Browse courses on
Case Studies
Show steps
-
Join a study group and select a supply chain case study to analyze.
-
Discuss the case, identify key issues, and brainstorm potential solutions.
Review Introduction to Probability Models
Show steps
Deepen your understanding of probability, a foundational concept in supply chain management.
View
Introduction to Probability Models
on Amazon
Show steps
-
Read the first three chapters of the book.
-
Complete the practice exercises at the end of each chapter.
-
Summarize the key concepts in your own words.
11 other activities
Expand to see all activities and additional details
Show all 14 activities
Practice using Excel for data analysis
Show steps
Become proficient in using Excel for data analysis tasks encountered in supply chain management.
Browse courses on
Data Analysis
Show steps
-
Review basic Excel functions and formulas.
-
Practice using Excel for data visualization.
-
Solve data analysis problems using Excel.
-
Attend an Excel workshop or training.
Review Probability Concepts
Show steps
Apply foundational probability concepts to enhance understanding of uncertainty in supply chains.
Browse courses on
Probability
Show steps
-
Revisit principles of probability, including conditional probability, independence, and Bayes' theorem.
-
Solve practice problems involving probability distributions, such as binomial, normal, and Poisson.
Probability Concepts
Show steps
Apply probability modeling to reduce uncertainty in supply chains.
Browse courses on
Probability
Show steps
-
Review the concept of probability and its significance for supply chain management.
-
Practice calculating probabilities and derive probability distributions from real-world supply chain data.
-
Explain how probability distributions can be used to estimate risk and make supply chain decisions.
Explore optimization modeling techniques
Show steps
Practice applying different optimization modeling techniques to refine your understanding of the methods used in the course.
Show steps
-
Research optimization modeling algorithms.
-
Find tutorials on specific techniques used in the course.
-
Apply the techniques to real-world supply chain scenarios.
-
Share your solutions with classmates or a mentor for feedback.
Regression Analysis Drills
Show steps
Strengthen understanding of regression techniques to analyze supply chain data and make predictions.
Browse courses on
Regression Analysis
Show steps
-
Complete a series of regression exercises, covering simple linear regression and multiple regression.
-
Interpret regression results, including R-squared, p-values, and confidence intervals.
Join a Supply Chain Study Group
Show steps
Engage with peers to discuss course concepts, share insights, and support each other's learning.
Show steps
-
Find or form a study group with classmates.
-
Establish regular meeting times.
-
Prepare for each session by reviewing course materials.
-
Participate actively in discussions.
Optimization Modeling Walkthrough
Show steps
Deepen understanding of optimization models and their application in supply chain decision-making.
Show steps
-
Follow guided tutorials on optimization algorithms, such as simplex method and branch-and-bound.
-
Apply optimization techniques to solve supply chain problems, such as inventory management and transportation planning.
Solve Supply Chain Optimization Problems
Show steps
Enhance your problem-solving skills by applying optimization techniques to real-world supply chain scenarios.
Show steps
-
Identify a supply chain problem that can be modeled as an optimization problem.
-
Formulate the problem as a mathematical model.
-
Solve the model using a solver tool.
-
Interpret the results and make recommendations.
Write a Supply Chain Case Study Analysis
Show steps
Apply course concepts to a real-world supply chain and develop recommendations for improvement.
Show steps
-
Select a supply chain case study.
-
Analyze the case study using course concepts.
-
Identify areas for improvement.
-
Develop and present recommendations.
Develop a Supply Chain Simulation Model
Show steps
Gain practical experience in simulating supply chain processes to analyze and improve their performance.
Show steps
-
Define the scope and objectives of the simulation.
-
Design the simulation model, including entities, processes, and interactions.
-
Collect and analyze data to parameterize the model.
-
Run the simulation and collect results.
-
Analyze the results and make recommendations for improvement.
Contribute to an Open-Source Supply Chain Project
Show steps
Gain practical experience in supply chain management by contributing to real-world projects.
Show steps
-
Identify an open-source supply chain project that interests you.
-
Review the project documentation.
-
Find an issue that you can contribute to.
-
Develop a solution and submit a pull request.
Review Basic Statistics and Regression
Show steps
Refresh your understanding of statistical concepts essential for supply chain analysis.
Browse courses on
Basic Statistics
Show steps
Show steps
Show steps
- Review your lecture notes or online resources on basic statistics.
- Complete practice problems on measures of central tendency, dispersion, and probability distribution.
- Review your lecture notes or online resources on regression analysis.
Case Study Discussion
Show steps
Engage in peer discussions to analyze real-world supply chain case studies and derive practical insights.
Browse courses on
Case Studies
Show steps
Show steps
Show steps
- Join a study group and select a supply chain case study to analyze.
- Discuss the case, identify key issues, and brainstorm potential solutions.
Review Introduction to Probability Models
Show steps
Deepen your understanding of probability, a foundational concept in supply chain management.
View
Introduction to Probability Models
on Amazon
Show steps
Show steps
Show steps
- Read the first three chapters of the book.
- Complete the practice exercises at the end of each chapter.
- Summarize the key concepts in your own words.
11 other activities
Expand to see all activities and additional details
Show all 14 activities
Practice using Excel for data analysis
Show steps
Become proficient in using Excel for data analysis tasks encountered in supply chain management.
Browse courses on
Data Analysis
Show steps
Show steps
Show steps
- Review basic Excel functions and formulas.
- Practice using Excel for data visualization.
- Solve data analysis problems using Excel.
- Attend an Excel workshop or training.
Review Probability Concepts
Show steps
Apply foundational probability concepts to enhance understanding of uncertainty in supply chains.
Browse courses on
Probability
Show steps
Show steps
Show steps
- Revisit principles of probability, including conditional probability, independence, and Bayes' theorem.
- Solve practice problems involving probability distributions, such as binomial, normal, and Poisson.
Probability Concepts
Show steps
Apply probability modeling to reduce uncertainty in supply chains.
Browse courses on
Probability
Show steps
Show steps
Show steps
- Review the concept of probability and its significance for supply chain management.
- Practice calculating probabilities and derive probability distributions from real-world supply chain data.
- Explain how probability distributions can be used to estimate risk and make supply chain decisions.
Explore optimization modeling techniques
Show steps
Practice applying different optimization modeling techniques to refine your understanding of the methods used in the course.
Show steps
Show steps
Show steps
- Research optimization modeling algorithms.
- Find tutorials on specific techniques used in the course.
- Apply the techniques to real-world supply chain scenarios.
- Share your solutions with classmates or a mentor for feedback.
Regression Analysis Drills
Show steps
Strengthen understanding of regression techniques to analyze supply chain data and make predictions.
Browse courses on
Regression Analysis
Show steps
Show steps
Show steps
- Complete a series of regression exercises, covering simple linear regression and multiple regression.
- Interpret regression results, including R-squared, p-values, and confidence intervals.
Join a Supply Chain Study Group
Show steps
Engage with peers to discuss course concepts, share insights, and support each other's learning.
Show steps
Show steps
Show steps
- Find or form a study group with classmates.
- Establish regular meeting times.
- Prepare for each session by reviewing course materials.
- Participate actively in discussions.
Optimization Modeling Walkthrough
Show steps
Deepen understanding of optimization models and their application in supply chain decision-making.
Show steps
Show steps
Show steps
- Follow guided tutorials on optimization algorithms, such as simplex method and branch-and-bound.
- Apply optimization techniques to solve supply chain problems, such as inventory management and transportation planning.
Solve Supply Chain Optimization Problems
Show steps
Enhance your problem-solving skills by applying optimization techniques to real-world supply chain scenarios.
Show steps
Show steps
Show steps
- Identify a supply chain problem that can be modeled as an optimization problem.
- Formulate the problem as a mathematical model.
- Solve the model using a solver tool.
- Interpret the results and make recommendations.
Write a Supply Chain Case Study Analysis
Show steps
Apply course concepts to a real-world supply chain and develop recommendations for improvement.
Show steps
Show steps
Show steps
- Select a supply chain case study.
- Analyze the case study using course concepts.
- Identify areas for improvement.
- Develop and present recommendations.
Develop a Supply Chain Simulation Model
Show steps
Gain practical experience in simulating supply chain processes to analyze and improve their performance.
Show steps
Show steps
Show steps
- Define the scope and objectives of the simulation.
- Design the simulation model, including entities, processes, and interactions.
- Collect and analyze data to parameterize the model.
- Run the simulation and collect results.
- Analyze the results and make recommendations for improvement.
Contribute to an Open-Source Supply Chain Project
Show steps
Gain practical experience in supply chain management by contributing to real-world projects.
Show steps
Show steps
Show steps
- Identify an open-source supply chain project that interests you.
- Review the project documentation.
- Find an issue that you can contribute to.
- Develop a solution and submit a pull request.
Career center
Learners who complete Supply Chain Analytics will develop knowledge and skills
that may be useful to these careers:
Supply Chain Analyst
Supply Chain Analyst
A Supply Chain Analyst analyzes the flow of goods and services within a supply chain. They work on a variety of tasks, such as supply chain mapping, inventory optimization, and transportation planning. This course would provide a Supply Chain Analyst with the analytical skills needed to succeed in this role. The course would also help a Supply Chain Analyst to develop the skills needed to collect and analyze data, and to build and interpret statistical models.
Supply Chain Manager
Supply Chain Manager
A Supply Chain Manager oversees the flow of goods and services within a company. They work with suppliers, manufacturers, and distributors to ensure that products are delivered to customers in a timely and cost-effective manner. This course would provide a Supply Chain Manager with the analytical skills needed to make informed decisions about inventory management, transportation, and logistics. The course would also help a Supply Chain Manager to understand the risks and uncertainties involved in the supply chain and to develop strategies to mitigate these risks.
Operations Research Analyst
Operations Research Analyst
An Operations Research Analyst uses mathematical and analytical techniques to improve the efficiency and effectiveness of business operations. They work on a variety of problems, such as scheduling, inventory management, and logistics. This course would provide an Operations Research Analyst with the foundational knowledge in probability, statistics, and optimization that is needed to succeed in this role. The course would also help an Operations Research Analyst to develop the skills needed to collect and analyze data, and to build and solve mathematical models.
Management Consultant
Management Consultant
A Management Consultant helps businesses to improve their performance. They work on a variety of projects, such as strategic planning, organizational design, and process improvement. This course would provide a Management Consultant with the analytical skills needed to succeed in this role. The course would also help a Management Consultant to develop the skills needed to collect and analyze data, and to build and interpret statistical models.
Statistician
Statistician
A Statistician uses data to solve problems. They work on a variety of tasks, such as data analysis, statistical modeling, and forecasting. This course would provide a Statistician with the analytical skills needed to succeed in this role. The course would also help a Statistician to develop the skills needed to collect and analyze data, and to build and interpret statistical models.
Data Analyst
Data Analyst
A Data Analyst uses data to solve problems and make better decisions. They work on a variety of tasks, such as data cleaning, data analysis, and data visualization. This course would provide a Data Analyst with the analytical skills needed to succeed in this role. The course would also help a Data Analyst to develop the skills needed to collect and analyze data, and to build and interpret statistical models.
Financial Analyst
Financial Analyst
A Financial Analyst uses data to analyze financial statements and make investment recommendations. They work on a variety of tasks, such as financial modeling, valuation, and risk assessment. This course would provide a Financial Analyst with the analytical skills needed to succeed in this role. The course would also help a Financial Analyst to develop the skills needed to collect and analyze data, and to build and interpret statistical models.
Data Scientist
Data Scientist
A Data Scientist uses data to solve business problems. They work on a variety of tasks, such as data mining, machine learning, and statistical modeling. This course would provide a Data Scientist with the analytical skills needed to succeed in this role. The course would also help a Data Scientist to develop the skills needed to collect and clean data, and to build and interpret statistical models.
Procurement Manager
Procurement Manager
A Procurement Manager is responsible for acquiring goods and services for a business. They work on a variety of tasks, such as vendor selection, contract negotiation, and supplier management. This course would provide a Procurement Manager with the analytical skills needed to succeed in this role. The course would also help a Procurement Manager to develop the skills needed to collect and analyze data, and to build and interpret statistical models.
Operations Manager
Operations Manager
An Operations Manager plans and coordinates the activities of a business. They work on a variety of tasks, such as production planning, inventory management, and quality control. This course would provide an Operations Manager with the analytical skills needed to succeed in this role. The course would also help an Operations Manager to develop the skills needed to collect and analyze data, and to build and interpret statistical models.
Actuary
Actuary
An Actuary uses data to assess risk and uncertainty. They work on a variety of tasks, such as insurance pricing, risk management, and financial planning. This course would provide an Actuary with the analytical skills needed to succeed in this role. The course would also help an Actuary to develop the skills needed to collect and analyze data, and to build and interpret statistical models.
Risk Manager
Risk Manager
A Risk Manager identifies and assesses risks to a business. They work on a variety of tasks, such as risk identification, risk assessment, and risk mitigation. This course would provide a Risk Manager with the analytical skills needed to succeed in this role. The course would also help a Risk Manager to develop the skills needed to collect and analyze data, and to build and interpret statistical models.
Auditor
Auditor
An Auditor examines financial records to ensure that they are accurate and compliant with regulations. They work on a variety of tasks, such as financial statement analysis, risk assessment, and internal controls testing. This course would provide an Auditor with the analytical skills needed to succeed in this role. The course would also help an Auditor to develop the skills needed to collect and analyze data, and to build and interpret statistical models.
Market Researcher
Market Researcher
A Market Researcher uses data to understand consumer behavior. They work on a variety of tasks, such as market analysis, survey design, and data analysis. This course would provide a Market Researcher with the analytical skills needed to succeed in this role. The course would also help a Market Researcher to develop the skills needed to collect and analyze data, and to build and interpret statistical models.
Business Analyst
Business Analyst
A Business Analyst uses data to analyze business processes and identify opportunities for improvement. They work on a variety of projects, such as process mapping, data analysis, and financial modeling. This course would provide a Business Analyst with the analytical skills needed to succeed in this role. The course would also help a Business Analyst to develop the skills needed to collect and analyze data, and to build and interpret statistical models.
For more career information including salaries, visit:
OpenCourser.com/course/eewuu1/supply
Reading list
We've selected 13 books
that we think will supplement your
learning. Use these to
develop background knowledge, enrich your coursework, and gain a
deeper understanding of the topics covered in
Supply Chain Analytics.
Would provide a comprehensive reference for supply chain management, including supply chain analytics. It would be a useful resource for students who want to learn more about supply chain management.
Would provide a good overview of operations research, which is the mathematical foundation for supply chain analytics. It would be a useful resource for students who want to learn more about operations research.
Would provide a good overview of supply chain management, which is the context for supply chain analytics. It would be particularly useful for students who have not previously studied supply chain management.
Would provide a good introduction to decision analysis, which is an essential tool for supply chain analytics. It would be particularly useful for students who have not previously studied decision analysis.
Would provide a good introduction to optimization modeling, which is an essential tool for supply chain analytics. It would be particularly useful for students who have not previously studied optimization modeling.
Would provide a good introduction to nonlinear programming, which is an essential tool for supply chain analytics. It would be particularly useful for students who have not previously studied nonlinear programming.
Would provide a good introduction to stochastic programming, which is an essential tool for supply chain analytics. It would be particularly useful for students who have not previously studied stochastic programming.
Save
Would provide a good introduction to robust optimization, which is an essential tool for supply chain analytics. It would be particularly useful for students who have not previously studied robust optimization.
Would provide a good introduction to linear programming and network flows, which are essential tools for supply chain analytics. It would be particularly useful for students who have not previously studied linear programming and network flows.
Would provide a good introduction to regression analysis, which is an essential tool for supply chain analytics. It would be particularly useful for students who have not previously studied regression analysis.
Would provide a good overview of statistics, which are essential for supply chain analytics. It would be particularly useful for students who have not previously studied statistics.
Would be a good introduction to probability and statistics, which are essential for supply chain analytics. It would be particularly useful for students who have not previously studied probability and statistics.
Would be a good introduction to probability models, which are essential for understanding supply chain analytics. It would provide a good background for students who have not previously studied probability.
For more information about how these books relate to this course, visit:
OpenCourser.com/course/eewuu1/supply
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Effort
8 to 12 hours per week for 15 weeks
Level
Introductory
Via
edX
Institution
Massachusetts Institute of Technology
Instructor
Chris Caplice
Sessions
September 4, 2024
- December 13, 2024
May 8, 2024
- August 16, 2024
Language
English
Transcript
English
This course belongs to a
collection
called
Supply Chain Management. It's comprised of six courses:
- Supply Chain Analytics (viewing)
- Supply Chain Fundamentals
- Supply Chain Design
- Supply Chain Dynamics
- Supply Chain Technology and Systems
- Supply Chain Comprehensive Exam
Good to know
Focuses on the application of these methods, not necessarily the theoretical underpinnings
Provides case studies drawn from actual supply chains for practical application and context
Taught by Chris Caplice, a seasoned instructor in the field
Self-paced with a scheduled final exam, allowing for flexibility and accomodating various learning styles
Provides a comprehensive overview of analytical methods in supply chains
May require an existing foundation in statistics or probability
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