Natalia Santamaría teaches classes in project management and operations management for non-business graduate students. Her research, which focuses on competitive bidding and decision making under competition and uncertainty, has been published in Management Science, Manufacturing & Service Operations Management, and Production and Operations Management. Prior to joining Johnson in 2014, she was an assistant professor in the industrial engineering school at Universidad de Los Andes in Colombia. She earned a BS and an MSc in industrial engineering from Universidad de Los Andes, an MSc in operations research from Rutgers University, and a Ph.D. in supply chain management and operations research from the Pennsylvania State University.
Inventory levels impact operational performance, customer service, and the cost structure that delivers a product or service. Carrying inventory is costly because it ties up cash and creates risk of obsolescence. Therefore, an inventory management policy aligned to deliver the organization's objectives needs to be in place.
In this course, you will explore the drivers of inventory strategy and compare product life cycles. You will practice using the appropriate models and approaches to match levels of inventory with demand in a way that maximizes profit, and you will determine the optimal policies to manage two types of inventory in a given scenario. Finally, you will recommend strategies to improve operations management in your organization based on the principles of the Toyota Production System.
The following courses are required to be completed before taking this course:
- Analyzing Operations Processes
- Improving Service Operations
- Designing a Quality Control System
Key Course Takeaways
- Calculate service-level metrics to determine how likely an organization is to fulfill a customer request
- Use the Newsvendor Model to match levels of inventory with demand in a way that maximizes profit for short life cycle products
- Use the EOQ Model to match levels of inventory with demand in a way that maximizes profit for long life cycle products
- Recommend TPS-derived strategies to improve operations management in your organization
How It Works
Who Should Enroll
- Mid-career healthcare professionals
- Physicians transitioning into a managerial role
- Nurses and nurse practitioners taking on management responsibilities
- Healthcare policy professionals looking to transition into operations management
- Business management professionals/MBA students who wish to specialize in healthcare operations
- Customer-facing managers in government agencies
- Anyone whose staff or unit is responsible for providing a consistent and high level of service