IIT Madras launches certificate programme on operations and supply chain analytics for strategic decision-making.

The Indian Institute of Technology Madras (IIT Madras) has launched a course on Operations and Supply Chain Analytics for Strategic Decision Making to train managers to take critical decisions based on the available information and data. The program is being offered through the Institute’s Centre for Outreach and Digital Education (CODE).

The programme focuses on building analytical foundations in the initial part of the program (modules 1 and 2) and then takes a deep dive into various practical applications (module 3). Hence, this program offers a comprehensive perspective on most of the operations and supply chain problems faced by the industry today, according to a release.

While there are no specific eligibility criteria to apply, this programme assumes a basic understanding of mathematical and statistical concepts. It is expected that the participants are interested in analytical model building and data-driven decision-making. The last date to register is September 20.

Rahul Marathe, Professor, Department of Management Studies, IIT Madras, on the need for such a programme, said that managers need to take critical decisions that have to be based on available information and data. That makes data-driven decision-making skills the most critical skill in organisations today. Decision Sciences can help managers build the required framework to make optimal decisions. This theory encompasses important elements such as mathematical and empirical modelling.

The programme focuses on building analytical skills, such as optimisation, game theory, probability theory, and statistical modelling, among others. Further, the program includes modules on the applications of these analytical tools to the day-to-day decisions managers are required to take.

For example, operations decisions such as inventory optimisation, supply chain management, network design, logistics planning, and service management can be analysed mathematically. The same analytical tools are relevant in sectors such as healthcare management, agriculture, and public policy. The program includes cases from these industries, the release said.