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Level 5 Diploma in Logistics and Supply Chain Management

Applying Procurement and Inventory Management in practice: case studies

LSC502 · Procurement and Inventory Management — Week 12 of 16

CourseLSC502
Week12 of 16
SemesterI
TutorOnline in the course chat

This week’s topics

Applying Procurement and Inventory Management in practice: case studies

  1. Case analysis
  2. Linking theory to practice
  3. Evaluating evidence
  4. Week 02: Lecture 10: Case Study on Inventory Segmentation
  5. MITx MicroMasters SC1x Live Event 3A - Inventory Problem from Practice

What you will be able to do

  • 1.3 Compare different methods of procurement.
  • 1.4 Assess the impact of procurement on the operations of a logistics business.
  • 3.3 Compare different methods of inventory management.
  • 3.4 Discuss the importance of inventory management to a business and its supply chain.
  • 4.3 Assess the impact of inventory management on the supply chain of a business.

Activity

Start with this week’s 2 videos, then: Case-study workshop: apply the unit’s concepts to a real or realistic case and evaluate the outcome.

Study materials

Videos

  • MITx MicroMasters SC1x Live Event 3A - Inventory Problem from Practice · YouTube · MIT Center for Transportation & Logistics · 8 min · for registered students
  • MITx MicroMasters SC1x Live Event 3B Inventory Problem from Practice · YouTube · MIT Center for Transportation & Logistics · 29 min · for registered students
  • Inventory Management: How to Align Company Strategy with the Right Policies? · YouTube · MIT Center for Transportation & Logistics · 44 min · for registered students

Further resources

  • Operations Management (Fanshawe), ch. 13: Inventory Management · Reading · Other, textbook chapter; PDF pp. 565–600 · for registered students
  • Procurement in the Supply Chain World, ch.: Procurement Strategy · Reading · Other, textbook chapter; PDF pp. 25–41 · for registered students
  • Writing Guide with Handbook, ch. 8.5: Writing an analytical report · PDF · OpenStax, textbook chapter; pp. 254–267 · for registered students
Materials marked “for registered students” open in the student portal, which is set up as soon as you receive final acceptance.
Week 11Week 13
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Course plan
  • Week 1: Foundations of Procurement and Purchasing
  • Week 2: Procurement Methods and Sourcing Strategies
  • Week 3: The End-to-End Procurement Process
  • Week 4: Procurement Management within the Supply Chain Context
  • Week 5: Strategic and Operational Impact of Procurement on Logistics
  • Week 6: Inventory Management and Inventory Control Fundamentals
  • Week 7: Inventory Management Methods and Replenishment Models
  • Midterm: Midterm evaluation
  • Week 9: Strategic Value and Role of Inventory in Supply Chains
  • Week 10: Supply Chain Factors Influencing Inventory Management
  • Week 11: Assessing the Impact of Inventory on Supply Chain Performan…
  • Week 12: Applying Procurement and Inventory Management in practice: …
  • Week 13: Assignment workshop: research, planning and referencing
  • Week 14: Assignment workshop: drafting, feedback and improvement
  • Week 15: Review and coursework completion
  • Final: Final assessment and submission
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