Builds on LOG707 or LOG706, (or equivalent).
6 hours of lectures per week. The course also contains two full-week case studies. During those two weeks, courses scheduled in parallel with LOG703 will be stopped. It is mandatory to be present during the case studies.
6 hours individual written final examination counts 60% of the final grade. The two compulsory assignments each count 5%. The cases each count 15%.
The course is a continuation of topics covered in LOG501 / LOG707, plus some new topics. There will be emphasis placed on problems in the management of inventory and production control. In addition, extensive quantitative models in the aforementioned areas will be presented and used specifically in the formulation and solution of logistical problems.
Different inventory management principles and models for deterministic and stochastic demands including the Newsboy problem will be discussed. Emphasis will be placed on the differentiation of products in connection with inventory management and its consequences, more specifically different approaches for treating slow-moving articles. In production planning, sequential planning, Little's law and line balancing will be treated.