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BUS-P 602: INVENTORY THEORY (1.5 - 3 credits)


This is a course on quantitative models and techniques of inventory management. Mathematical models designed to support the management of production, distribution, and inventory constitute the core of the course. A primary concern is the control of logistics systems: Given a scenario describing supply, demand, and cost factors, what is an effective policy for controlling the system over time? The course focuses on simple but robust policies. Through careful formulation and analysis of a model of the system, the course helps the students to learn how to evaluate the performance of such policies, and then to compute an optimal policy.