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Creating Business Value with Statistical Analysis

Special Note

This course is the second of 4 courses in the Supply Chain Analytics Professional (SCA) certificate. While participants are not required to complete the program’s first/previous course(s) in the series, we suggest being familiar with the learning outcomes of the previous course(s).

The course is comprised of (4) half-day online instructor-led LIVE group webinars (May 15, 16, 17, 18 | 1-5pm ET) and pre-work (e.g. installing and testing software on your computer, testing connectivity with LMS and meeting software, etc.) to be completed before the first day of the course.

Course Description

This course is the second in the four-course Supply Chain Analytics Professional certificate program. It emphasizes operational performance metrics to align supply chain management with strategic business goals. You’ll learn several statistics concepts (e.g. variance analysis, hypothesis testing, forecasting methods) along with inventory management models. You’ll use diagnostic analytics with PowerBI and Python to conduct demand and service profiling, undertake root cause analysis, and use time series forecasting in inventory management.

Who Should Attend

Experienced business professionals who perform or want to perform analytics to improve their supply chain management processes. They want to tackle strategic goals and to perform leading edge analytics projects that address the full complexity of supply chains.

How You Will Benefit

  • Understand why and how to align Supply Chain Management (SCM) strategy with business strategy
  • Learn statistics techniques as they relate to SCM
  • Understand inventory management models and how to apply statistics techniques to them
  • Create time series forecasts based on SCM data
  • Utilize Python and PowerBI to perform statistical analyses, create time series forecasts and visualize results

What Is Covered

  • The importance of aligning SCM and business strategy
  • How to ask the right business questions as they relate to SCM
  • How to use statistics to identify issues, compare data, and forecast decision outcomes
  • Statistical concepts including variance analysis and hypothesis testing
  • Inventory management models
  • Applying statistics to inventory management models
  • Forecasting techniques including time series forecasting
  • Hands-on practice with these skills using data from the (fictional) Cardboard Company (CBC)

Below is format for the online/virtual-Instructor led version of the course.

Webinar 1 – The Right Business Questions
Importance of aligning SCM and business strategy
Business questions
  • Asking the right ones
  • Putting them into action
Identifying improvement opportunities using analytics initiatives
Activity: Understand the Cardboard Company (CBC) case through the lens of business strategy
Homework: Create the right business questions for CBC
 
Webinar 2 – Statistics for Supply Chain Data
Using statistics in SCM
  • Identify issues
  • Compare data
  • Forecast simple decision outcomes
Statistics techniques
  • Variance analysis
  • Hypothesis testing
Activity: Apply hypothesis testing to the CBC case
Homework: Start creating a dashboard that includes statistics for CBC (can start with previous course’s dashboard)
 
Webinar 3 – Inventory Management
Inventory management models
Demand profiling
Service profiling
Root cause analysis
Applying statistics techniques to inventory management
Activity: apply inventory management models to CBC case
Homework: Continue evaluating how techniques can apply to CBC
 
Webinar 4 – Time Series Forecasting
Simple forecasting techniques
  • Expected demand
  • More forecasting techniques
Time series forecasting
Applying forecasting techniques to inventory management
Activity: Use forecasting on CBC data and add to dashboard
Final assignment (due 1 week after last webinar)
  • Complete your CBC dashboard
  • Create an explanation of your dashboard to an end user
  • Create an explanation of your dashboard choices for the instructors
  • Complete final assessment

Course Materials

Required

  • Canvas Learning Management System - Visit https://pe.gatech.edu/technology-requirements to ensure the computer you will be using meets the minimum technical requirements to access online material and lessons associated with this course.
  • Zoom using both audio and video - Please visit https://bluejeans.com/111​​​​​​ to ensure the computer you will be using is compatible.
  • Python installed on local computer with additional packages identified by the instructors
  • Power BI installed on local computer

Provided

  • A URL, username and password to access the online course material
  • Optional 2-Hour Online Preparation Seminar offered one week prior to course start which will provide a high-level overview of the software that will be used during the course.
    • Course software: Canvas and video conferencing services
    • Python: Installation and Basics
    • PowerBI: Installation and Basics

Course Prerequisite and Related Certificate Information

Recommended

  • General SCM knowledge
  • A general understanding of probability
  • Basic Python / Programming experience
  • Basic PowerBI experience

Required

  • Knowledge of content and ability to apply skills covered in Course 1 of the program

For those interested in earning the Supply Chain Analytics (SCA) Professional Certificate, take the below 4 courses within four years.

  1. Transforming Supply Chain Management and Performance Analysis
  2. Creating Business Value with Statistical Analysis
  3. Machine Learning Applications for Supply Chain Planning
  4. Supply Chain Optimization and Prescriptive Analytics

Course CEUs

This course provides for 1.40 continuing education units (CEUs).

Course Instructors

Course Times

Online/Virtual-Instructor led 

On the first day, please log in at least 15 minutes before the class start time.

  • First Day - 1pm to 5pm ET
  • ​Second Day - 1pm to 5pm ET
  • Third Day - 1pm to 5pm ET
  • Fourth Day - 1pm to 5pm ET

Course Fees

Standard: $1,100.00, Certificate: $913.00 (cost of each course when signing up for and paying for a multi-course certificate program).

Register and pay for all required courses in a Supply Chain & Logistics certificate and receive a discount of 17% off per course. Enter coupon code SCL-Cert at checkout.

All residents of the State of Georgia are eligible for a 50% discount while funds last thanks to a grant from the U.S. Department of Commerce's Economic Development Administration. Use of this discount is subject to verification of GA residency. Enter coupon code SCL-GAAIM at checkout.

If you have 3 or more participants from your organization, please contact us for volume discounts. Review coupon instructions for more information.

Discounts cannot be combined. For questions, call 404-894-2343 or send us an email prior to registration.

UPCOMING OFFERINGS*

May 15, 2023 to May 18, 2023
Virtual (Instructor-led)

An interview with Daphne de Poot, one of the SCA course series instructors.

 
 
 
ISyE location map

Georgia Tech Supply Chain and
Logistics Institute
H. Milton Stewart School of
Industrial & Systems Engineering
765 Ferst Drive, NW, Suite 228
Atlanta, GA 30332
Phone: 404.894.2343