Many decisions in supply chain, logistics, manufacturing, and service operations are becoming increasingly complex and require algorithm-based analytics support. This course is designed to equip participants with fundamental quantitative techniques to help make more informed managerial decisions. Specifically, this course will cover models for nonlinear optimization, goal programming, Analytic Hierarchy Process, and dynamic programming.
The focus of the course will be on applications of optimization models and computer-based tools to assist practical decision-making regarding production planning, portfolio optimization, supplier selection, risk management, etc. The objective is to help working professionals, especially those in manufacturing, supply chain and logistics sectors, to learn advanced analytics, and to improve decision making in an increasingly digitized industrial environment.
This course is part of:
- Graduate Certificate in Supply Chain Engineering
- FlexiMasters in Supply Chain Engineering
Upon completion of the course, the participants will be able to:
1. Understand the general procedure to conduct analytics based on mathematical optimization.
2. Formulate and solve specific operational problems using nonlinear optimization models, goal programming, AHP, and dynamic programming.
3. Extract managerial insights based on analytical solutions from mathematical optimization.
4. Combine heuristic reasoning based on experience and analytical solutions from optimization models to make informed decisions in operations.
The course will cover some of the most commonly used mathematical models and analytics tools for operational decision-making. The main topics and the time allocated for each topic are:
1. Nonlinear optimization models and applications
The section will introduce nonlinear optimization models in terms of their formulation and solving procedures. Examples from production planning and portfolio optimization will be used to demonstrate the applications of nonlinear optimization.
2. Goal programming and applications
The formulation of goal programming problems, including objective function, constraints, and goal equations, will be introduced. Graphical solutions and computer solutions will be explained with a human resources allocation example.
3. Analytic Hierarchy Process (AHP)
AHP is a widely used analytical tool for multicriteria decision-making. This section will introduce the methods for establishing hierarchy under AHP and explain, with examples, how AHP can be used for establishing priorities and rankings among alternatives with multiple dimensions or factors.
4. Dynamic programming models and applications
This section will cover optimization models based on dynamic programming. The formulation of dynamic programming problems and the solution procedure will be introduced. Examples based on the Knapsack problem will be used to illustrate its application in operational decision-making.
Working adults from the industry, professionals seeking mid-career change or fresh graduates with relevant background.
Participants are strongly recommended to take CET861 Optimization of Supply and Transportation Networks before attempting this course. Participants may find this course challenging without knowledge from CET861 Optimization of Supply and Transportation Networks.
Standard Course Fee: S$1,296
SSG Funding Support
Course fee payable after SSG funding, if eligible under various schemes
Fee BEFORE funding & GST
Fee AFTER funding & 8% GST
Singapore Citizens (SCs) and Permanent Residents (PRs) (Up to 70% funding)
Enhanced Training Support for SMEs (ETSS)
SCs aged ≥ 40 years old
NTU/NIE alumni may utilise their $1,600 Alumni Course Credits. Click here for more information.
|COURSE TITLE||ACADEMIC UNIT|
|CET857 Warehousing Operations||1|
|CET858 Global Air Cargo||1|
|CET859 Multi-modal Transport and Sea Freight Management||1|
|CET860 Decision Making under Uncertainty||1|
|CET861 Optimization of Supply and Transportation Networks||1|
|CET863 Sales and Operations Planning||1|
|CET864 Resource and Capacity Planning||2|
|CET865 Introduction to Supply Chain Management||1|
|CET866 Supply Network Design & Inventory Management||1|
|CET867 Advanced Topics in Supply Chain Management||1|
|CET868 Strategic Sourcing and Procurement||2|
|CET869 Effective Supplier Management & Development||1|
Listed courses are:
- Credit-bearing and stackable to Graduate Certificate in Supply Chain Engineering (total 9AUs) and FlexiMasters in Supply Chain Engineering (total 15AUs).
- SkillsFuture Credit approved.