Course abstract

The objective of the course is to introduce the basic concepts and statistical and other quantitative techniques and methods employed in the broad area of materials management, in general and inventory control and management, in particular. Static and dynamic inventory problems under certainty, risk and uncertainty, design of inventory study and decision procedures, current approaches in inventory management, important methods and approaches in purchasing, storing, distribution, value engineering/analysis, logistics and SCM are some of the topics which are required to be covered for the students taking up this course for the first time. Such a comprehensive course is required to be offered by Mechanical Engineering, Industrial Engineering,Manufacturing/Production Engineering and related departments at undergraduate level and by Management/Business schools at the postgraduate level in any renowned university or educational institute in India and abroad. It is essential that the students studying in these disciplines at UG or PG levels should enroll themselves in this course.