Ementorhub

What you'll learn

Identify the components of capacity optimization, resource optimization, and Monte Carlo simulation.

Set up and solve optimization problems in Excel.

Build a demand and inventory snapshot and run Monte Carlo simulation to solve for a more agile supply chain.

Skills you'll gain

Cost Reduction

Inventory Management System

Supply Chain Planning

Process Optimization

Supply Chain Management

Simulation and Simulation Software

Demand Planning

Mathematical Modeling

Capacity Management

Probability Distribution

Microsoft Excel

Operations Management

Resource Allocation

There are 4 modules in this course

Optimization is an important piece of an agile supply chain. In this course, we will explore the components of optimization and how to set up an optimization problem in Excel. We will also practice capacity and resource optimization and explore examples of both in the supply chain. Building off of our optimization practice, we will next learn how to use a Monte Carlo simulation to make the least risky decision in uncertain supply chain situations. Finally, we will combine our skills from this and the previous two courses to build a demand and inventory snapshot and optimize it, using a Monte Carlo simulation, to mitigate risks in the supply chain.

Capacity Optimization

Resource Optimization

Monte Carlo Simulation