Credit Points: 3.5
Lecture: 3 hours
Exercise: 1 hour
Prerequisites: Deterministic Models in Operations Research (concurrent), Methods
Engineering, Optimization & Meta-heuristics (concurrent)
This is the first in a series of two courses, discussing quantitative and qualitative analysis aspects of production systems operations. Emphasis will be given to both theoretical and practical issues
The course includes:
1. Inventory systems with deterministic demand – the EOQ model extended including management of several products.
2. Inventory systems with stochastic demand – discrete and continuous control and extensions,
3. Time series forecasting methods – regression, moving average, exponential smoothing, seasonality and forecast evaluation.