Become a Supply Chain Data Scientist: Manage your Inventory

Name: Become a Supply Chain Data Scientist: Manage your Inventory
Rating: 5.0 (1 reviews)

Become a Supply Chain Data Scientist: Master Inventory Optimization, Demand Forecasting, and Python Simulations

Created byAsad Ali

Last updated 12/2024

English

What you'll learn

Understand the core principles of inventory systems, including raw materials, finished products, and supply chain connections.
Master essential inventory metrics like Economic Order Quantity (EOQ), Reorder Level (ROL), and Safety Stock to minimize costs.
Use Python to calculate demand variability, safety stock, reorder points, and implement simulations for real-world inventory problems.
Leverage data-driven approaches to forecast demand, optimize lead time, and align inventory levels with business goals.
Building world-class stochastic inventory simulations systems using Python
Building world-class Discrete event time inventory simulations systems using Python

Course content

4 sections • 16 lectures • 2h 19m total length

Introduction and Setting Up3:34

Basics of Inventory3:47
Explore the fundamentals of inventory, including raw materials, finished products, components, and work in progress, and learn to balance carrying, ordering, and stock-out costs using discrete-event simulation to optimize profitability.
Core Principles of Inventory Management5:27
Understanding Statistical Distributions4:17
Understanding Key Inventory Parameters 116:34
Understanding Key Inventory Parameters 26:49
Explore how safety stock uses demand variance and lead time, with reorder level as lead time average times demand average plus safety stock, and how service level ties to cost.
Summary of Key Concepts10:10
Modeling Leadtime and Demand with Python6:13
Apply lead time and demand concepts by building a Python simulation with NumPy and Matplotlib to visualize daily demand, lead time fluctuations, and histograms with mean and standard deviation.
Modeling Variation Impact on Inventory7:55
Explore how variation in lead time and demand shifts reorder points, service levels, and inventory costs, and show Python-based analysis using NumPy and Matplotlib to visualize safety stock decisions.
Building our first inventory model9:39
Understanding Service Level and Fill Rate10:59

Optimizing a Real-World Dataset11:09
Apply inventory models to a real-world dataset, calculating average daily demand, demand variability, and lead time to determine safety stock, reorder point, service level, and economic order quantity per sku.
Building a complete Inventory Model for Optimization9:39
Develop a complete inventory model for optimization by building a year-long Python simulation using safety stroke, EOQ, reorder point, reorder quantity, with visualizations of inventory level, orders, and costs.

Requirements

Basic knowledge of core programming concepts (preferably Python).
Familiarity with elementary statistics (mean, standard deviation, etc.).

Description

Are you ready to become a sought-after Supply Chain and Inventory Data Scientist? This comprehensive, hands-on course will equip you with the Python-powered skills to master Inventory Optimization, Demand Forecasting, and Supply Chain Simulation, positioning you for exciting job opportunities in the data-driven supply chain and operations field.

Unlike theory-heavy programs, this course takes you step by step through real-world inventory challenges, teaching you how to analyze data, simulate variability, and optimize systems using industry-standard Data Science techniques. By combining Python coding, advanced statistical models, and proven Inventory Management strategies, you’ll build the expertise employers are actively seeking.

What You’ll Accomplish:

Master the fundamentals: Gain in-depth knowledge of critical inventory concepts, including Reorder Levels (ROL), Economic Order Quantity (EOQ), and Safety Stock, creating a solid foundation for supply chain analysis.
Code like a data scientist: Use powerful Python libraries like NumPy, Pandas, and Matplotlib to model inventory performance, visualize trends, and make data-driven decisions that directly impact business outcomes.
Simulate like a pro: Build both stochastic and discrete-event simulations to tackle real-world supply chain chaos, such as fluctuating demand, lead times, and variability.
Forecast with confidence: Use advanced forecasting techniques to predict demand, optimize reorder points, and minimize costly stockouts and overstocking.
Implement proven strategies: Apply real-world inventory policies like Continuous Review and Periodic Review, and Fixed Order Quantity to maximize operational efficiency and cut costs.
Deliver actionable insights: Learn to analyze historical data, identify bottlenecks, and design optimized workflows tailored to business needs—from startups to global enterprises.

By the End of This Course, You Will:

Position yourself as a Supply Chain and Inventory Data Scientist—a career path in high demand across industries. Use this course as a portfolio project
Cut inventory costs and boost service levels, adding immediate value to any organization.
Transform inventory management strategies for businesses of all sizes, making you a key player in optimizing supply chains.

Why Take This Course?

The future of supply chain management is data-driven, and employers are seeking professionals who can bridge the gap between inventory management and data science. With this course, you’ll gain the tools and confidence to stand out in today’s competitive job market and land your dream role.

Let’s analyze, optimize, and simulate—together!

Who this course is for:

Inventory Managers
Business Analysts
Data Analysts
Data Scientists
Supply Chain Specialist
Warehouse Managers
Operations Researchers

Become a Supply Chain Data Scientist: Manage your Inventory

What you'll learn

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Course content

Introduction1 lecture • 4min

Inventory Theory and building basic inventory models10 lectures • 1hr 22min

Inventory Optimizations and Building Deterministic and Stochastic Simulation2 lectures • 21min

Discrete Event Simulations and Inventory Simulation Dashboards3 lectures • 34min

Requirements

Description

Who this course is for: