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MGT351 v1

Module 3 Required Resources

Textbook

Krajewski, L.J., & Malhotra, M. K. (2025). Operations Management Processes and Supply Chains (14th Ed.). Pearson.

  • Chapter 9: Forecasting

This chapter is important for understanding the different types of forecasting. Types of key decisions to start a forecast are reviewed and using the five basic measures of forecast errors. Comparing and contrasting the four approaches to judgmental forecasting are applied. Regression and independent variables are covered with the five most common statistical approaches used in a time-series analysis.

  • Chapter 10: Inventory Management

This chapter covers inventory and linking supply chain management. The performance of companies can be based on the performance of the inward flow of materials and the outward flow of services or products. Costs and holding inventory are covered with pressures related to holding a large inventory. Finances are a challenge in many organizations due to the fluctuations in inventory. Continuous and periodic review systems are analyzed for reordering with a scientific focus. Finally, ethics are covered since the inventory value is a large part of the company’s assets and included in stocks and bank evaluations.

  • Supplement C: Special Inventory Models

This supplemental chapter covers calculation strategies for inventory lot sizes. How to determine the optimal size of an order and expected profits for a period. Important and useful equations are reviewed.

  • Chapter 11: Operations Planning and Scheduling

This chapter is important to review and understand the rationale behind operations planning and scheduling processes. Supply options used in sales and operations planning are covered. Planning strategies are compared for the development of sales and operation plans using spreadsheets. Developing workforce and workstation schedules is practiced.

  • Chapter 12: Resource Planning

This chapter is important to review the materials requirements planning process. Understanding a dependent demand is essential in inventory management and forecasting. Implementing a master production schedule is applied to break sales and operations into specific product schedules. Resource planning for service providers, such as staff, equipment, and components, is reviewed.

Your course textbook can be accessed via the DART eBook link in the Getting Started module.

Videos

Module 3 Optional Resources

PowerPoints