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Inventory Models and Network Modeling

Learn about inventory management techniques and network modeling in industrial engineering with this free online course.

Publisher: NPTEL
Industrial engineering is a challenging field and if you want an in-depth understanding of the techniques, tools, functions and applications of inventory and network modeling techniques, then this free online course is just for you. Solving real-life industrial engineering problems through calculating timings, identifying critical paths and surmising project duration is just a few clicks away.
Inventory Models and Network Modeling
  • Duration

    4-5 Hours
  • Students

    106
  • Accreditation

    CPD

Description

Modules

Outcome

Certification

View course modules

Description

Optimizing complex processes, systems and organizations is at the heart of industrial engineering and this free online course in ‘Inventory Models and Network Modeling’ teaches you the fundamental theories and applications of inventories as well as the network modeling approach. You will learn about the economic order quantity (EOQ) model that can be applied in consumption, as well as the demand rate situation. The EOQ model can be used in situations where demand is not fixed and this technique and how effective it is in production, is covered in-depth.

You will also be introduced to network modeling project management, as well as the PERT (program, evaluation, review, technique) model and its applications. Cost minimization, resource utilization as well as the maximization of productivity and output using the PERT model will be highlighted. 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 ‘optimistic’ and ‘pessimistic’ times. If you want to know how to control inventory in manufacturing industries, how to manage systems and put together realistic timelines, register now and start studying today.

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