Course Description

The Supply Chain Fundamentals course, part of the prestigious MITx MicroMasters Credential in Supply Chain Management, offers an in-depth exploration of the essential skills and knowledge required for successful supply chain management and logistics. Developed by the #1 ranked SCM Master's program at the Massachusetts Institute of Technology, this intermediate-level course provides students with a comprehensive understanding of the analytical tools, approaches, and techniques used in designing and operating logistics systems and integrated supply chains.

What Students Will Learn

• Develop and apply analytic tools for supply chain management
• Incorporate and manage uncertainty and risk in supply chain operations
• Segment customers, products, and channels to design optimal logistics strategies
• Identify, design, and implement appropriate forecasting methodologies
• Create and execute effective inventory replenishment policies
• Select optimal transportation routing and modal choices
• Utilize mathematical models to illustrate supply chain concepts
• Analyze real-world industry examples and case studies

Prerequisites

• High school-level algebra and basic mathematical manipulation
• Familiarity with undergraduate probability, statistics, and calculus
• Recommended: Completion of CTL.SC0x Supply Chain Analytics course

Course Coverage

• Demand Forecasting, Planning, and Management
• Inventory Planning, Management, and Control
• Transportation Planning, Management, and Execution
• Development and application of mathematical models in logistics
• Analysis of intra- and inter-company logistics operations
• Total cost reduction strategies in supply chain management
• Integration of various supply chain components
• Real-world case studies and industry examples

Who This Course Is For

• Professionals seeking to advance their careers in supply chain management
• Business managers looking to optimize their company's logistics operations
• Students pursuing a career in operations, logistics, or supply chain management
• Entrepreneurs aiming to improve their understanding of supply chain dynamics
• Anyone interested in gaining a comprehensive understanding of modern supply chain practices

Real-World Applications

• Optimize inventory management and reduce carrying costs
• Improve demand forecasting accuracy, leading to better resource allocation
• Enhance transportation planning and execution, reducing logistics expenses
• Implement effective risk management strategies in supply chain operations
• Design and manage integrated supply chains for improved efficiency
• Apply analytical tools to make data-driven decisions in logistics
• Develop cost-effective logistics strategies for various customer segments
• Improve overall supply chain performance and reduce total costs

Syllabus Overview

The course focuses on three main topic areas:

1. Demand Forecasting, Planning, and Management
2. Inventory Planning, Management, and Control
3. Transportation Planning, Management, and Execution

The course combines theoretical concepts with practical applications, using a mix of mathematical models and real-world examples to illustrate key principles. Students can expect a rigorous, applied analytical approach that addresses genuine problems encountered in the field of supply chain management.