IND 4310 - Production Planning and Inventory Control

• Define and explain common terminology related to production planning and control
• Utilize common forecasting techniques to predict future demand and evaluate them using quantitative techniques (e.g., ME, MAD, APE, SD)
• Explain the use and implementation of inventory management systems, ABC analysis and methods of maintaining inventory accuracy
• Utilize different versions of the EOQ model and explain the trade-offs, constraints, and advantages of each model
• Utilize and assess different contemporary lot sizing techniques and explain the trade-offs, constraints, and advantages of each technique
• Implement cost analysis to evaluate lot sizing decisions
• Explain, construct, and interpret MPS documents for different production scenarios
• Apply the MRP algorithm with various lot sizing rules to generate planned order releases
• Perform rough-cut capacity planning and calculate relevant system parameters such as capacity, utilization, and efficiency
• Describe the difference between push and pull production systems and explain how various pull systems operate
• Relate the Theory of Constraints to production planning and control activities
• Utilize ERP software to analyze data from a sample company and perform common production control transactions
• Apply methods to address job scheduling problems and workforce planning problems in different organizational settings
• Explain the relationship between production planning and inventory control, ERP, and supply chain management

• Probability, statistics, variability, and linear regression
• Systems of linear equations, linear transformations, matrices, etc.
• Process modeling

• Introduction to ERP
• Dependent vs. independent demand
• Introduction to forecasting
• Forecasting models
• Methods for evaluating forecasting models
• Master Production Scheduling (MPS)
• Rough-cut capacity planning
• Resource requirements planning
• Introduction to Material Requirements Planning (MRP) (i.e., elements of the MRP, construction of the MRP, understanding the MRP, calculations, how the dependent demand affect the MRP, lot sizing in MRP - produce-to-order vs. produce-to-stock; net change vs. regenerative MRP systems; MRP in assemble-to-order firms)
• Bill of materials file and inventory status file
• Economic Order Quantity Model (EOQ)
• Capacity requirements planning and load schedule
• Fixed Order Quantity and Fixed Order Period Systems
• EOQ models with quantity discounts
• Lead Time (LT) and Safety Stock (SS)
• Order point, probability of stockout, and service level
• Single period models
• ABC Classification of Materials
• Wagner-Whitin algorithm
• Job scheduling and capacity planning
• Order sequencing rules and their performance based on different evaluation criteria
• Sequencing jobs through two work centers - Johnson’s rule
• Workforce scheduling algorithms
• Mathematical programming approaches for operations planning (LP and MIP)
• Introduction to supply chain
• Common problems of supply chain in engineering
• Impact of supply chain on the operation planning
• Use of blockchains in supply chain problems

• Two-hour laboratory covering ERP software (e.g., SAP and ERPSim, Microsoft Dynamics GP, and Oracle)