Introduction to Inventory Models and Network Optimization

Managing supply chains and keeping stock levels balanced is a critical challenge for modern businesses and industrial engineers. This course provides a structured introduction to inventory models and network modeling, helping you understand how to minimize costs while meeting demand. Through reading detailed explanations and working through practical written scenarios, you will transition from understanding basic logistics definitions to modeling complex supply chain networks. You will gain the analytical skills needed to make data-driven decisions about stocking, replenishment, and distribution pathways. What you'll learn: - Understand foundational inventory concepts, holding costs, and safety stock definitions. - Apply classical inventory models, including the Economic Order Quantity (EOQ) formula. - Design supply chain network models to optimize routing and distribution flows. - Analyze demand uncertainty and implement modern safety stock calculation methods. - Explore current trends in supply chain resilience and real-time data-driven forecasting. - Practice solving optimization problems through structured written exercises and case studies. You will begin by learning core logistics terms and foundational principles of inventory management before progressing to mathematical models and network routing scenarios. The text guides you step-by-step from simple single-item decisions to multi-node network optimization. This course is designed for beginners in industrial engineering, operations management, or logistics, requiring no advanced mathematical background. Start reading today to build a solid foundation in modern inventory control and network design.