Course Information
SchoolMechanical Engineering
Cycle / Level1st / Undergraduate
Teaching PeriodWinter
CoordinatorGeorgios Tagaras
Course ID20000304

Programme of Study: UPS of School of Mechanical Engineering

Registered students: 97
OrientationAttendance TypeSemesterYearECTS
EnergyElective Courses belonging to the other745
Design and StructuresElective Courses belonging to the other745
Industrial ManagementElective Course belonging to the selected specialization (Elective Specialization Course)745

Class Information
Academic Year2020 – 2021
Class PeriodWinter
Faculty Instructors
Weekly Hours4
Class ID
Course Type 2016-2020
  • Scientific Area
Course Type 2011-2015
Specific Foundation / Core
Mode of Delivery
  • Distance learning
Digital Course Content
The course is also offered to exchange programme students.
Language of Instruction
  • Greek (Instruction, Examination)
General Prerequisites
Familiarity with optimization, probability and statistics at an introductory level.
Learning Outcomes
- Learning quantitative inventory management methods for the case of deterministic and stochastic demand. - Solving numerical examples and problems with the application of the introduced quantitative methods. - Development of critical skill to choose and apply the appropriate quantitative method depending on the case under study.
General Competences
  • Apply knowledge in practice
  • Retrieve, analyse and synthesise data and information, with the use of necessary technologies
  • Adapt to new situations
  • Make decisions
  • Work autonomously
  • Work in an international context
Course Content (Syllabus)
Introduction - The significant role of Inventory Management. Forecasting methods. Deterministic systems of inventory management: (a) the case of known and constant demand and (b) the case of known but varying demand. Stochastic systems of inventory management: continuous and periodic review. Single-period model for the management of seasonable and innovative products (newsvendor problem). Inventory management of multiple products.
Inventory management, Quantitative Methods
Educational Material Types
  • Notes
  • Video lectures
  • Book
Use of Information and Communication Technologies
Use of ICT
  • Use of ICT in Course Teaching
  • Use of ICT in Communication with Students
  • Use of ICT in Student Assessment
Lectures using zoom. Teaching material and information about the course through elearning.
Course Organization
Reading Assigment702.3
Written assigments220.7
Student Assessment
The final grade M is a combination of the grades in the final written examination (T), the midterm examination (Π) and the project/homework (E) as follows: • If either Τ < 4,5 or (Τ+Π)/2 < 4, then the final grade is Μ = (0,8)Τ. • In every other case the final grade is Μ = max {(0,6)Τ + (0,3)Π + (0,2)Ε, (0,8)T}.
Student Assessment methods
  • Written Exam with Multiple Choice Questions (Summative)
  • Written Exam with Short Answer Questions (Summative)
  • Written Exam with Extended Answer Questions (Summative)
  • Written Assignment (Summative)
  • Written Exam with Problem Solving (Summative)
Course Bibliography (Eudoxus)
1. Ιωάννου, Γ. «Διοίκηση Παραγωγής και Υπηρεσιών», Εκδ. Unibooks, 2017. 2. Δημητριάδης, Σ. και Α. Μιχιώτης, «Διοίκηση Παραγωγικών Συστημάτων», Εκδ. Κριτική, 2020. 3. Hillier, F.S. and G.J. Lieberman, «Εισαγωγή στην επιχειρησιακή έρευνα», Εκδ. Τζιόλα, 2017.
Additional bibliography for study
Silver, E.A., Pyke, D.F. and Peterson, R. "Inventory Management and Production Planning and Scheduling", Wiley, 1998.
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