With an enhanced focus on building analytical skills & training managers to take critical decisions based on data, IIT Madras has launched a Certificate Program on ‘Operations & Supply Chain Analytics for Strategic Decision Making’. Dedicated to providing practical training for managers, this course is made available through the esteemed Institute’s Centre for Outreach and Digital Education (CODE) and the last date to register is 20th September 2023.
The program offers a comprehensive perspective on most of the operations and supply chain problems faced by industry today. The program also focuses on building analytical skills such as optimization, game theory, probability theory, and statistical modeling etc.
While there are no specific requirements for eligibility to apply, this program assumes that individuals possess a fundamental grasp of mathematical and statistical concepts. It is anticipated that participants have a keen interest in constructing analytical models and making data-driven decisions.
Emphasizing the need for such courses, Prof. Rahul Marathe, Professor, Department of Management Studies IIT Madras, stated that managers need to take critical decisions that must be based on available information and data. That makes data-driven decision-making skills the most critical skill in organizations today. ‘Decision Sciences’ can aid managers build the required framework to take optimal decisions.
Adding, he further said, ‘This theory encompasses important elements such as mathematical and empirical modelling. Today’s world is characterized by uncertainty – uncertainty in the environment, in the data, and hence in the results. Hence, a good understanding of uncertainty and its impact on optimal decision-making is critical. A good manager needs to be skilled in decision- making under uncertainty.’
The program focuses on developing various analytical skills, including optimization, game theory, probability theory, and statistical modeling, among others. Additionally, the program covers modules that explore the practical applications of these analytical tools in day-to-day decision- making for managers.
