IIT Madras Launches New Programme: Operations and Supply Chain Analytics for Strategic Decision Making

‘Operations and Supply Chain Analytics for Strategic Decision Making’ is a new certificate programme that the Indian Institute of Technology Madras (IIT Madras) has introduced. The new programme aims to prepare managers to make important decisions based on the facts and data at their disposal. The institute’s Centre for Outreach and Digital Education (CODE) is distributing the new programme.

The institute continued, “The programme focuses on building these analytical skills such as optimisation, game theory, probability theory, and statistical modelling, among others. It offers a comprehensive perspective on most of the operations and supply chain problems faced by the industry today.”

Although there are no specified requirements for eligibility, this programme requires a fundamental knowledge of mathematics and statistical principles. The participants’ interest in developing analytical models and making decisions based on data is anticipated.

According to a statement from IIT Madras, the program’s first two modules — which focus on developing analytical underpinnings — are followed by module 3, which delves deeply into a variety of real-world applications.

Key learning outcomes for the new IIT Madras programme

• Describe the various analytical modelling techniques.
• Showcase the use of modelling in supply chain management-related domains.
• Play around with supply chain management’s stochastic and dynamic character.
• Create an analytical model for a supply chain or operations problem, and then use the right approaches to address it.
• Create a decision-support analytical tool for the supply chain configuration in a certain industry or organization.

Professor Rahul Marathe of IIT Madras’ department of management studies emphasised the need for such programmes by stating that “managers need to take critical decisions that have to be based on available information and data.”

Due to this, data-driven decision-making abilities are currently the most important talent in organisations. “Decision Sciences” can help managers create the necessary foundation for making the best judgements.

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