Supply Chain Optimization

Published learning objectives:

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 Monte Carlo simulation to solve for a more agile supply chain.

Published course description:

Optimization is an important piece of an agile supply chain.In this course, we will explore the components of optimization and how to set up an optimization problem in Excel.We will also practice capacity and resource optimization and explore examples of both in the supply chain.

Building off of our optimization practice, we will next learn how to use a Monte Carlo simulation to make the least risky decision in uncertain supply chain situations.

Finally, we will combine our skills from this and the previous two courses to build a demand and inventory snapshot and optimize it, using a Monte Carlo simulation, to mitigate risks in the supply chain.