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Supply Chain of Perishable Products: Inventory Management
Rating: 4.5 out of 5(361 ratings)
5,917 students

Supply Chain of Perishable Products: Inventory Management

Newsvendor Model in less than 60 minutes
Created byTimofey Shalpegin
Last updated 4/2021
English
English

What you'll learn

  • Newsvendor model
  • Inventory management of perishable products
  • Maximization of expected profits

Course content

4 sections • 10 lectures • 45m total length

  • Instructor Introduction1:30

    Tim introduces his background in international management and research in operations and supply chain management, highlighting experience at Procter & Gamble and KPMG to guide this course on perishable inventory.

  • Course Overview4:05

    Explore inventory management for perishable products with the Newsvendor model, learn demand distributions, compute the optimal order quantity, and explore overbooking and Excel simulations.

Requirements

  • Knowledge of basic statistics, e.g., mean or standard deviation

Description

In this course, we will learn how to manage a supply chain of perishable products. After completing the course, you will be able to quickly find the optimal order quantity for any perishable product with any demand pattern. We will also consider the optimal level of overbooking for service businesses.

After taking this course, you will gain the following skills:

  • Improve the expected profits of your business with no extra investment

  • Simulate a complex problem and find the optimal solution in MS Excel

  • Master the Newsvendor Model

You can achieve all these by spending less than 60 minutes of your time!

Who this course is for:

  • Supply chain management students
  • Supply chain managers seeking to upgrade their skills

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