IIT Madras has announced the launch of a certificate programme titled ‘Operations and Supply Chain Analytics for Strategic Decision Making.’ Aimed at training managers, the course is offered through the Institute’s Centre for Outreach and Digital Education (CODE).
The course seeks to equip participants with critical decision-making skills based on comprehensive data analysis.
COURSE FOCUS AND STRUCTURE
The programme devotes the initial modules to building analytical foundations, while later it delves into various practical applications. By taking this approach, it offers a broad perspective on the most common operations and supply chain problems that today’s industries encounter.
A prerequisite understanding of mathematical and statistical concepts is expected from participants who should also show interest in analytical model-building and data-driven decision-making.
The course’s unique draw lies in its concentration on analytical skills like game theory, statistical modelling, probability theory, and optimisation, among others. Managers often use these tools in everyday decisions involving supply chain management, inventory optimisation, logistics planning, and network design.
The same tools are applicable in various sectors like public policy, agriculture, and healthcare management, and the course includes case studies from these areas.
According to Professor Rahul Marathe from the Department of Management Studies at IIT Madras, data-driven decision-making skills are vital for modern managers to make optimal decisions.
He also emphasised the importance of understanding uncertainty in both the environment and data, making skilful decision-making under uncertainty a priority for any successful manager.
COURSE OBJECTIVES
- Describe various methods of analytical modelling
- Demonstrate the application of modelling to areas of supply chain management
- Experiment with the dynamic and stochastic nature of supply chain management
- Formulate an operations and/or a supply chain problem as an analytical model and solve it using appropriate methodologies.
- Design an analytical decision-making tool for the supply chain configuration in specific industries and organizations
ELIGIBILITY AND FEES
This programme assumes a basic understanding of mathematical and statistical concepts. Though there is no pre-requisite for any particular educational background, it is expected that the participants have interests in analytical model building and data-driven decision-making.
Course fees: Rs. 1,18,000 (Rs. 1,00,000 + 18% GST)
Discount Offer(30%): Register for the course by August 31, 2023 (4 pm IST) at ₹70,000 + 18% GST
Course fees can also be paid in installments:
- 2 installments of Rs.41,989 each
- 6 installments of Rs.14,111 each
NOTE: The first installment is to be paid on registration and the next installments over the course period.
Bulk discounts are available for corporate nominations under single billing.
IMPORTANT DATES
ProGramme start date: October 2, 2023
Last date for registration: September 20, 2023
COURSE STRUCTURE
This course comprises 120 hours of recorded videos and 24 hours of ONLINE interactive sessions with the faculty.
The course is structured in the following manner:
- Participants need to watch around 6 hours of video content (not more than 3 hours in a particular module) every week.
- A live interaction session would be scheduled every Saturday with the corresponding faculty to discuss the module content and clarify queries. The duration of this session would be 1 hour.
Modules covered:
- MODULE 1: Analytical tools and applications
- MODULE 2: Decision-making uncertainty
- MODULE 3: Cases and applications
