Dr. Li Chen is a Professor of Operations, Technology and Information Management and Breazzano Family Term Professor of Management at Samuel Curtis Johnson Graduate School of Management at Cornell University. Dr. Chen’s research interests concern supply chain management, operations strategy, and Bayesian methods for predictive and prescriptive analytics. He has published research works in top journals in the operations management field, such as Management Science, Operations Research, and Manufacturing, Service and Operations Management. Prior to joining Johnson School, Dr. Chen was an Associate Professor of Business Administration at The Fuqua School of Business at Duke University. Before his Duke appointment, Dr. Chen spent four years at TrueDemand Software, a supply chain software company in Silicon Valley, where he was the cofounder and lead scientist of the company. Dr. Chen obtained his PhD in Management Science and Engineering from Stanford University in 2005.
Inventory is everywhere; you can find inventory in your refrigerator, pantry, and on the shelves of grocery stores. Yet there's also more "invisible" inventory in delivery trucks, shipping containers, and distribution centers. Managing inventory along the supply chain can be complicated. For businesses, keeping the right amount of inventory in supply chains is critical for maximizing profit.
In this course, you will discover how to determine the optimal inventory level for a supply chain location. First, you will explore the trade-off between inventory and customer service. You will then examine how to assess the cost performance of a single supply chain location and the trade-off between inventory holding and shipping costs. You will also determine the cost performance of a network of supply chain locations. Finally, you will discuss improving the supply chain cost performance by inventory pooling.
The following course is required to be completed before taking this course:
- Forecasting Supply Chain Demand
Key Course Takeaways
- Determine the optimal inventory level for replenishment
- Assess the cost performance of both a single supply chain location and across multiple supply chain locations
- Improve supply chain performance by reconfiguration
How It Works
Who Should Enroll
- Individuals seeking to increase skills in supply chain strategy
- Operations analysts
- Market analysts for consumer and industrial products
- Consultants seeking supply chain knowledge