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September 30, 2024
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Data Science Strategies in Supply Chain Management. Master data science skills to create a more agile supply chain.
Instructor: Paul Jan
8,751 already enrolled
Included with
(270 reviews)
Recommended experience
Intermediate level
At least 1-2 years of supply chain management experience is recommended.
(270 reviews)
Recommended experience
Intermediate level
At least 1-2 years of supply chain management experience is recommended.
Analyze historical data to determine inventory levels in steady and uncertain demand situations using Excel.
Set up and solve optimization problems in Excel.
Build a demand and inventory snapshot and run a Monte Carlo simulation to solve for a more agile supply chain.
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Over the past two decades, the supply chain has become more complex. While advancing technology has allowed companies to capture this complexity within stores of ever accumulating data, companies have not kept up with how to analyze and derive insights from that data. This specialization uses hands-on activities to show how data science techniques can turn raw data into decision-makers for a more agile supply chain. Foundational techniques such as demand forecasting, inventory management with demand variability, and using the newsvendor model are covered, in addition to more advanced techniques such as how to optimize for capacity and resources as well as mitigate risks with the Monte Carlo simulation. By the end of this specialization, you will be able to:
Describe how demand planning, supply planning, and constrained forecast are associated with one another.
Use Excel to analyze historical data to quantify future needs.
Analyze historical data to determine inventory levels in steady and uncertain demand situations using Excel.
Manage inventory in an uncertain environment.
Quantify the inventory needs for single-period items using the newsvendor model.
Identify the components of capacity optimization, resource optimization, and Monte Carlo simulation.
Set up and solve optimization problems in Excel.
Build a demand and inventory snapshot and run a Monte Carlo simulation to solve for a more agile supply chain.
Applied Learning Project
Throughout the specialization, learners work with real-world supply chain data to analyze various supply chain scenarios. To close, learners apply concepts from all three courses to apply learned data science skills to improve the margins of a supply chain.
Describe how demand planning, supply planning, and constrained forecast are associated with one another.
Use Excel to analyze historical data to quantify future needs.
Measure and quantify results for improvement.
Manage inventory in an uncertain environment.
Analyze historical data to determine inventory levels in steady and uncertain demand situations using Excel.
Quantify the inventory needs for single-period items using the newsvendor model.
Identify the components of capacity optimization, resource optimization, and Monte Carlo simulation.
Set up and solve optimization problems in Excel.
Build a demand and inventory snapshot and run Monte Carlo simulation to solve for a more agile supply chain.
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Since 1965, the University of California, Irvine has combined the strengths of a major research university with the bounty of an incomparable Southern California location. UC Irvine’s unyielding commitment to rigorous academics, cutting-edge research, and leadership and character development makes the campus a driving force for innovation and discovery that serves our local, national and global communities in many ways.
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This course is completely online, so there’s no need to show up to a classroom in person. You can access your lectures, readings and assignments anytime and anywhere via the web or your mobile device.
If you subscribed, you get a 7-day free trial during which you can cancel at no penalty. After that, we don’t give refunds, but you can cancel your subscription at any time. See our full refund policy.
Yes! To get started, click the course card that interests you and enroll. You can enroll and complete the course to earn a shareable certificate, or you can audit it to view the course materials for free. When you subscribe to a course that is part of a Specialization, you’re automatically subscribed to the full Specialization. Visit your learner dashboard to track your progress.
Yes. In select learning programs, you can apply for financial aid or a scholarship if you can’t afford the enrollment fee. If fin aid or scholarship is available for your learning program selection, you’ll find a link to apply on the description page.
When you enroll in the course, you get access to all of the courses in the Specialization, and you earn a certificate when you complete the work. If you only want to read and view the course content, you can audit the course for free. If you cannot afford the fee, you can apply for financial aid.
This Specialization doesn't carry university credit, but some universities may choose to accept Specialization Certificates for credit. Check with your institution to learn more.
¹ Median salary and job opening data are sourced from Lightcast™ Job Postings Report. Data for job roles relevant to featured programs (2/1/2024 - 2/1/2025)