Advanced Operations Analysis
| Code | School | Level | Credits | Semesters |
| BUSI4498 | Business | 4 | 10 | Spring UK |
- Code
- BUSI4498
- School
- Business
- Level
- 4
- Credits
- 10
- Semesters
- Spring UK
Summary
Module content is organised around 4 themes:
1. More ‘advanced’ forecasting techniques ( including more advanced time series and causal models);
2. Inventory modelling (quantity discount models; joint replenishment; reorder point and size systems; periodic review models; news vendor model; (S-1, S) model; multi-warehouse situations);
3. Shop floor control: WIP and Little’s law; introduction to operations scheduling and sequencing;
4. Introduction to distribution logistics modelling, reverse logistics and closed-loop supply chains.
Target Students
Only available for MSc Industrial Engineering and Operations Management OR MSc Logistics Supply Chain Management OR MSc Supply Chain and Operations Management OR Business Analytics students AND MSc Exchange students.
Classes
- One 2-hour lecture each week for 11 weeks
This module is taught through a series of lectures.
Assessment
- 100% Exam (2-hour): In-person exam.
Assessed by end of spring semester
Educational Aims
The module builds further on the fundamental planning and control concepts, tools and techniques, introduced in BUSI4496 Supply Chain Planning and Management. The module balances more quantitative models and techniques and practical case studies and aims to provide a thorough understanding of the tools and techniques that can be used to analyse, plan and control operations in contemporary businesses.Learning Outcomes
Knowledge and Understanding:
This module develops a knowledge and understanding of:
- The management of the supply chain.
- Markets - the development and operation of markets for resources, goods and services.
- Customers and stakeholders - customer expectations, service and orientation.
- The management of resources.
- The management of operations.
- The management of logistics.
- Tools and techniques for transforming (big) data into useful information for business analysis and decision support.
- The importance of sustainability issues, including an understanding of the challenges and opportunities arising from the activities of people and organisations on the economic, social and environmental conditions of the future.
Intellectual Skills:
This module develops:
- Being able to think critically and be creative: manage the creative processes in self and others; organise thoughts, analyse, synthesise and critically appraise. This includes the capability to identify assumptions, evaluate statements in terms of evidence, detect false logic or reasoning, identify implicit values, define terms adequately and generalise appropriately.
- Being able to solve complex problems and make decisions: establish criteria, using appropriate decision-making techniques including identifying, formulating and solving business problems; and the ability to create, identify and evaluate options; the ability to implement and review decisions.
- Using information and knowledge effectively in order to abstract meaning from information and to share knowledge, including the use of quantitative skills.
Professional Practical Skills:
This module develops:
- The ability to conduct research and enquiry into business and management issues either individually or as part of a team through research design, the collection and analysis of qualitative data, synthesis and reporting.
Transferable Skills:
This module develops:
- Effective communication; networking; listening; oral and written communication of complex ideas and arguments, using a range of media, including the preparation of business reports.