Inventory Models and Network Modeling
Learn how to apply techniques of inventory and network modeling in industrial engineering in this free online course.
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Inventory Models and Network Modeling in Industrial Engineering is a free online course that teaches the fundamental theories and applications of inventories as well as the network modeling approach in industrial engineering. This course will introduce you to the functions, tools, techniques, and applications of Inventory models and network modeling in industrial engineering. You will also learn about the quantity and re-order model that can be applied in consumption, as well as the demand rate situation. You will learn how to use the quantity and recorder model in situations where demand is not fixed, as well as how effective the technique is in production.
This course will also learn about the Network Modelling used in Project Management as well as the understanding of the network modeling techniques. You will also be introduced to project management in relation to Network modeling, as well as the PERT Network Model and its applications. Cost minimization, resource utilization as well as maximization of productivity, and maximizing output using the PERT model will also be highlighted in the topic. You will also learn how to determine the probability for completion of the project at a particular time, as well as how to calculate the various time-values and total project duration.
This course analyzes different inventory models for optimization, determining the critical path method, and how to estimate the optimistic and pessimistic times. This free online course will be of significant interest to students, researchers, manufacturers, and anyone with an interest in studying industrial engineering tools and requirements. So, register for this course today and enhance your understanding of industrial engineering principles and techniques.Start Course Now
Inventory Models - Learning Outcomes
Fundamental Aspects of Inventory
Smoothing Production Model
Quantity and Reorder Model
Gradual Replenishment Model
Importance of Inventory - Lesson Summary
Network Modelling and Analysis in Project Management
Network Modelling and Analysis in Project Management - Learning Outcomes
Introduction to Project Management & Network Modelling
Network Analysis: Project Activities and Calculation
Network Analysis: Expected Project Time and Analysis
Network Analysis: Crashing Network and CPM
Network Analysis: Critical Path Method
Network Modelling and Analysis in Project Management - Lesson Summary
Upon successful completion of this course, you should be able 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 modeling 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.
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