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Operations and Revenue Analytics

By Prof. Rajat Agrawal   |   IIT Roorkee
Learners enrolled: 526   |  Exam registration: 8
ABOUT THE COURSE:
The course is designed to impart knowledge of operations analytics to managers. By the end of this course, learners will be able to: learn the fundamentals of operations analytics, understand decision making under uncertainty in businesses, discover various aspects of Revenue Management and delve into multi criteria decision making techniques.

INTENDED AUDIENCE:
  • Learners of master’s or PhD degree whose course curriculum includes study on various aspects of Operations, business analytics and Revenue Management
  • Learners of other discipline who are interested in Operations Analytics and its role in managing the business resources.
  • Working Professionals who want to learn various aspects of operations analytics and data-driven decision making.
PREREQUISITES:
  • Basic Statistics
  • Supply Chain Analytics

INDUSTRY SUPPORT: All organizations in the area of Operations, Supply Chain Management, Logistics, Business analytics and Decision Sciences will benefit from this course.
Summary
Course Status : Upcoming
Course Type : Elective
Language for course content : English
Duration : 8 weeks
Category :
  • Management Studies
  • Operations
Credit Points : 2
Level : Postgraduate
Start Date : 17 Feb 2025
End Date : 11 Apr 2025
Enrollment Ends : 17 Feb 2025
Exam Registration Ends : 24 Feb 2025
Exam Date : 26 Apr 2025 IST

Note: This exam date is subject to change based on seat availability. You can check final exam date on your hall ticket.


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Course layout

Week 1 :

Lec 01 Operations Analytics: Introduction
Lec 02 Operations Analytics Applications
Lec 03 Descriptive Analytics
Lec 04 Predictive Analytics: Forecasts based on historical demand data
Lec 05 Predictive Analytics: Exponential Smoothing and Regression Analysis

Week 2:

Lec 06 Predictive Analytics: Estimation of Errors in Forecasting
Lec 07 Exponential Smoothing with Trend and Seasonality
Lec 08 Exponential Smoothing (Winter’s Model)
Lec 09 Inventory Management and Uncertainties
Lec 10 Managing Uncertainty through Safety Inventory

Week 3:

Lec 11 Supply Uncertainty, Quantity Discounts and Production Lot Sizing
Lec 12 Decision Making under Uncertainty: Decision Tree
Lec 13 Decision Tree Example
Lec 14 Monte Carlo Simulation for Inventory Management
Lec 15 Newsvendor problem: Optimal Stocking Quantity in a Single Period

Week 4:

Lec 16 Optimal Stocking Quantity in a Single Period: Continued
Lec 17 Optimal Product Availability in Continuous Stocking
Lec 18 Material Requirements Planning
Lec 19 Material Requirements Planning (Continued)
Lec 20 Improvements in Material Requirements Planning

Week 5:

Lec 21 Pricing and Revenue Management: Introduction
Lec 22 Levels and Strategy of Revenue Management
Lec 23 Case of Constrained Supply – Part -A
Lec 24 Case of Constrained Supply – Part-B
Lec 25 Booking Control and Nesting

Week 6:

Lec 26 Managing Cancellations and Two- Class model
Lec 27 Capacity Allocation
Lec 28 Capacity Allocation: Two-class and Multiclass Models
Lec 29 Multiclass Models: EMSR-a and EMSR-b
Lec 30 EMSR-a and EMSR-b: Illustration on Excel

Week 7:

Lec 31 Network Management
Lec 32 Network Management: Virtual Nesting
Lec 33 Network Management: Virtual Nesting Illustration​
Lec 34 Overbooking
Lec 35 Overbooking Polices

Week 8:

Lec 36 Revenue Management and Price Based
Lec 37 Single- Product Dynamic Pricing Without Replenishment
Lec 38 Auctions
Lec 39 Markdown Pricing
Lec 40 Markdown Pricing and Conclusion

Books and references

  1. Nahmias, S., & Olsen, T. L., Production and operations analysis. Waveland Press, 2015
  2. Talluri, K. T., Van Ryzin, G., & Van Ryzin, G. The theory and practice of revenue management (Vol. 1). Boston: Kluwer Academic Publishers, 2004.
  3. Tzeng, G. H., & Huang, J. J. Multiple attribute decision making methods and applications. CRC press, 2011.

Instructor bio

Prof. Rajat Agrawal

IIT Roorkee
Prof. Rajat Agrwal is Professor and Head with the Department of Management Studies at the Indian Institute of Technology (IIT) Roorkee, a 175 Years globally known Institution. He is also a Joint Professor with the Department of Design in the institute. He is also DPIIT-IPR Chair at IIT Roorkee.

He has many courses such as Supply Chain analytics, Production and Operations Management, Manufacturing Strategy, Toyota Production system which are regularly rerunning at NPTEL.
He has around 25 years of Experience in the areas of Operations Management and decision science. He has received many awards including RamKumar award for outstanding teaching and Research at IIT Roorkee. He has authored many research papers in leading journals as Journal of Cleaner Production, International Journal of Operations and Production Management, Industrial Marketing Management, The TQM Journal, International Journal of Lean Six Sigma, Computers & Industrial Engineering etc. He is actively involved in online teaching, sponsored projects and phd guidance.

Course certificate

The course is free to enroll and learn from. But if you want a certificate, you have to register and write the proctored exam conducted by us in person at any of the designated exam centres.
The exam is optional for a fee of Rs 1000/- (Rupees one thousand only).
Date and Time of Exams:April 26, 2025 Morning session 9am to 12 noon; Afternoon Session 2pm to 5pm.
Registration url: Announcements will be made when the registration form is open for registrations.
The online registration form has to be filled and the certification exam fee needs to be paid. More details will be made available when the exam registration form is published. If there are any changes, it will be mentioned then.
Please check the form for more details on the cities where the exams will be held, the conditions you agree to when you fill the form etc.

CRITERIA TO GET A CERTIFICATE

Average assignment score = 25% of average of best 6 assignments out of the total 8 assignments given in the course.
Exam score = 75% of the proctored certification exam score out of 100

Final score = Average assignment score + Exam score

Please note that assignments encompass all types (including quizzes, programming tasks, and essay submissions) available in the specific week.

YOU WILL BE ELIGIBLE FOR A CERTIFICATE ONLY IF AVERAGE ASSIGNMENT SCORE >=10/25 AND EXAM SCORE >= 30/75. If one of the 2 criteria is not met, you will not get the certificate even if the Final score >= 40/100.

Certificate will have your name, photograph and the score in the final exam with the breakup.It will have the logos of NPTEL and IIT Roorkee .It will be e-verifiable at nptel.ac.in/noc.

Only the e-certificate will be made available. Hard copies will not be dispatched.

Once again, thanks for your interest in our online courses and certification. Happy learning.

- NPTEL team


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