Department of Mechanical and Industrial Engineering
IEEN 5313 - 800
Inventory Systems
Spring, 2014
Instructor: Dr. Joon-Yeoul Oh, Associate Professor
Office: EC 332
Phone: (361) 593 – 3941 Fax: (361) 593 – 4026
Email: kfjo000@tamuk.edu
Class Time: W 6:00 pm – 8:50 pm @ EC136
Office Hours: M W 2:00 pm – 6:00 pm TR 10:00 am – 11:00am Or by appointment
REQUIRED Textbook:
Inventory Control and Management, 2nd Edition (2003), Donald Waters, John Wiley & Sons,
ISBN: 978-0-470-85876-9
RECOMMENDED Textbook:
Principles of Inventory and Materials Management, 4th edition (1994), Tersine, Richard J., Prentice-Hall, ISBN:
COURSE DESCRIPTION:
Deterministic/stochastic systems with static/dynamic models. Use of forecasting techniques. Practice of inventory management, manual and computerized procedures and MRP. Case studies in inventory systems management. Prerequisite: 3 hours undergraduate Production and Inventory Control or equivalent.
LEARNING OBJECTIVES:
Upon completing this course, the student should be able to:
1. Define the main terms used for inventory management
2. Explain how the inventory management are set within an organization
3. Derive and calculate an economic order quantity 4. Calculate the best order size and optimal batch sizes
5. Understand the principles of services level and safety stock
6. Do an ABC analysis of stock and understand the role of warehousing
7. Use a variety of judgmental forecasting methods
8. Describe the characteristic approach of material requirements planning (MRP) and just-in-time (JIT) operations
TOPICS TO BE COVERED: This schedule is subject to change due to the time constraints
1. Introduction: Stocks and Inventories
2. EOQ
3. Models for known demand
4.
