Rutgers Classifieds>Rutgers Online Courses>Leverage Data Science for a More Agile Supply Chain

Leverage Data Science for a More Agile Supply Chain

About this Specialization

Over the past two decades, the supply chain has become more complex. While advancing technology has allowed companies to capture this complexity within stores of ever accumulating data, companies have not kept up with how to analyze and derive insights from that data. This specialization uses hands-on activities to show how data science techniques can turn raw data into decision-makers for a more agile supply chain. Foundational techniques such as demand forecasting, inventory management with demand variability, and using the newsvendor model are covered, in addition to more advanced techniques such as how to optimize for capacity and resources as well as mitigate risks with the Monte Carlo simulation. By the end of this specialization, you will be able to:\\n\\nDescribe how demand planning, supply planning, and constrained forecast are associated with one another. Use Excel to analyze historical data to quantify future needs. Analyze historical data to determine inventory levels in steady and uncertain demand situations using Excel. Manage inventory in an uncertain environment. Quantify the inventory needs for single-period items using the newsvendor model. Identify the components of capacity optimization, resource optimization, and Monte Carlo simulation. Set up and solve optimization problems in Excel. Build a demand and inventory snapshot and run a Monte Carlo simulation to solve for a more agile supply chain.

Created by: University of California, Irvine


Related Online Courses

Develop insights on navigating the innovation process from idea generation to commercialization. Build knowledge on how to create strategies to bring innovations to market. Develop an innovation... more
The Budgeting Essentials and Development course focus on an integrative and practical view of concepts, methods, and techniques to develop a budget. After finishing this course, learners will be... more
This Specialization is intended for anyone looking to take control of their finances. Through these five courses, you will cover a variety of personal finance topics, including budgets, investing,... more
Welcome to the Project Approaches, Lifecycles, and Agile Implementation course! This course provides a comprehensive overview of various project management methodologies, focusing on traditional... more
This specialization is intended for experienced procurement people seeking to develop skills to run a world-class procurement department. Through seven (7) courses you will cover how to run an... more

CONTINUE SEARCH

FOLLOW COLLEGE PARENT CENTRAL