Objectives and competences
Students:
1. Enhance their theoretical knowledge in the field of process optimization in the organizations and are able to apply it.
2. Gain the ability to apply their theoretical knowledge in practice in the field of process optimization.
3. Understand and know how toacquire qualitative and quantitative approach to analysis of business processes.
4. Acquire advanced knowledge of basic theoretical approaches in the field of process optimization.
Content (Syllabus outline)
1. The role of Industry 4.0 in linking business processes
2. Inventory control models
Deterministic inventory models
- Economic Order Quantity model (EOQ)
- Quantity Discount Models
- EOQ model with Gradual Order delivery
Stochastic inventory models
- Reorder point and Target inventory level
- Inventory model with uncertain seasonal demand
3. Models and techniques for Capacity Planning
Definition of capacity
Forecasting capacity requirements
Investment models for increasing capacity
4. Quality control models
Control charts for variables
Control charts for attributes
Analysis of relationship between quality and costs
5. Models and techniques for demand forecasting
Models with the analysis of time series
Regression model
Demand forecasing with seasonal component
Indicators of forecast quality
Computer support: SPSS and Excel
Learning and teaching methods
- classic lectures;
- case study;
- active team work
Intended learning outcomes - knowledge and understanding
Development of knowledge and understanding:
Students:
1. Have a detailed knowledge in theories in the field of process optimization in the organizations.
2. Develop the skills to interpret the gained results in the field of process optimization in the organizations.
3. Are able to pursue further analysis regarding process optimization in the organizations.
4. Can demonstrate awareness of wider social and environmental ethical issues in areas of process optimization in the organizations
Cognitive/Intellectual skills:
Students:
1. Synthesize different knowledge and procedures and adapt them.
2. Can select appropriate techniques for problem solving and are able to evaluate the importance and significance of data.
Intended learning outcomes - transferable/key skills and other attributes
Key/Transferable skills
Students:
1. Further develop skills and expertise in the use of knowledge in their specific working area.
2. Upgrade the ability to apply information technology.
Practical skills:
Students:
1. Are able to act autonomously with defined guidelines and certain level of supervision.
Readings
Obvezni:
Čančer, V. (2020). Zapiski predavanj iz Odločitvenih modelov. Maribor: Ekonomsko-poslovna fakulteta.
Dodatni:
Bastič, M. (2003). Izvedbeni management: Optimizacijski modeli. Maribor: EPF.
Brandon-Jones, A., & Slack, N. (2008). Quantitative Analysis in Operations Management. Harlow etc.: Financial Times Press.
Render, B., Stair, R. M., Hanna, M. E., & Hale, T. S. (2018). Quantitative Analysis For Management (13. izd.). Harlow: Pearson.
Aktualni znanstveni in strokovni prispevki.
Additional information on implementation and assessment 20% - active participation at lectures, tutorials and labs
80% - written examination or two tests (each up to 40 %) written during semester
For a positive grade it is necessary to achieve at least 56 % of all possible points.
