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Has anyone taken I Sy E 645 – Engineering Models for Supply Chain and applied it during their internship(s)? I have taken the course and found it very interesting, but I was also wondering if the formulas are just used on the back end of current softwares in the industry (ie.SAP). If you have, I would like to hear more about how you applied it to your job. Thank you.
Hi! I am taking IE 645 right now and would like to follow on this topic. I found this course very interesting, and Professor AK is a great professor. I am also wondering has anyone applied IE 645 knowledge on industry? If fo which software are you using? Thanks!
Hi, Yes i have used it to some extent. The formulas are mostly on the background of some inventory optimization models but knowing how it is set up is definitely good to know to make any decision regarding safety stock or frequency of inventory review period. Also, risk pooling is something that is very important to know if you are in the position of making decision regarding how the inventory is set up within your DC’s and sister facilities. For an example when I was working, we had many sister plants who had variation in demand and that caused longer lead time and higher inventory in each facility. But we were able to make a decision to use one facility to place the order directly with supplier and the rest of the facility will buy from that facility with shorter lead times. Hence the risk of out of stock was greatly reduced by using those concepts. Therefore, this class is really helpful in real industry if you are mostly involved in material planning.
