Learning Outcomes

In this free course, you will learn how to:

• Explain the different models of inventory and their importance
• Describe the application of the smoothing production model
• Discuss the functions of the QR models in the inventory process
• List the factors to be considered in an optimum lot size determination
• Discuss the relationship between network modelling and project management
• Explain the PERT network model and its applications
• Identify the critical path and the total project duration
• Explain how to take care of uncertainties in time values
• Evaluate the probability of completion of a project in a space of time
• Discuss crashing the network and critical path techniques