Course Overview
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Course Synopsis
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This course presents the principles and techniques for solving Decision-making problems in the industry using Mathematical Models. It is the science of planning and executing operations to make the most economical use of resources available, also known as Management Science. The operation can be as simple as making a cup a tea as complicated as planning the movement of a fleet of tankers around the world. The techniques include Decision Analysis, Linear Programming, Transportation model, Assignment Model, Network Model, and Forecasting. The course emphasizes the process of model development and solution analysis.
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Course Learning Outcomes
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By the end of the course, students should be able:
- To formulate a decision-making problem and apply the method of depicting a series of decisions and outcomes by decision trees.
- To formulate the problems into mathematical model and apply the quantitative methods (graphical method and simplex method) for maximization and minimization problems
- To formulate the transportation and assignment problems and apply the transportation simplex and Hungarian methods.
- To define the concept of network analysis, develop the network diagram and perform network analysis.
- To identify different types of forecast, to measure forecast accuracy and apply time-series forecasting models
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Course Calendar
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3
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OR Techniques and Applications
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4
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Fundamental Concepts and Applications
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5
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Construction of Networks
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6
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Activities, Times and Floats
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9
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CPM Model and PERT Model
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11
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Inventory Costs and Economic Order Quantities
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12
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Purchasing Model with no Shortages
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Quiz 01
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13
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Purchasing Models with Shortages
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14
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Manufacturing Model with no Shortages
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15
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Manufacturing Model with Shortages
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17
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Introduction to Linear Programming
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Assignment 01
Mid Term Exam
Assignment 02
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31
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Transportation Problems
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Quiz 02
Quiz 03
Final Term Exam
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