Credit Hours: 3
ESTC: 6
Contact Hours: 3 Lecture
Module objectives:
- Understand the major capabilities and limitations of operations
research modeling as applied to problems in industry or government.
- Be able to recognize, formulate and, using prepared computer
packages, solve allocation models of static or dynamic type.
- Understand the reasons why the applicable algorithms work, and the
effects on the computed solutions of variations in the data or in the
assumptions underlying the models.
- Be able to communicate the results of the modeling process to users
who are not operations research specialists.
Module description:
This module covers quantitative models commonly used in business and
industries. Topics include linear programming, transportation, assignment,
and transshipment problems; integer linear programming; network models;
conditional probability; markov chain; waiting line models; decision analysis;
multicriteria decision problems; and dynamic programming. Examples of
business application will be used to establish the relevancy of the models.
Module outline:
1. Introduction of operations Research
2. Introduction to Linear Programming: Application and Model
formulation; The Graphical solution method; The Simplex solution
Method; Duality and sensitivity analysis
3. Integer Programming: The integer programming model; Total
integer programming model; A 0-1 integer programming model; Mixed
integer programming model
4. Decision Analysis and Game Theory: Decision making under
certainty; Decision making under uncertainty; Game Theory
5. Markov Analysis: Characteristics of Markov analysis: Application of
Markov analysis; State and transition probabilities
6. Nonlinear and Dynamic programming: The Dynamic programming
solution approach; Nonlinear programming model and solution
methods
7. Network Models: Introduction to Networks; The transportation Model
and solution methods; The assignment model and solution methods;
Shortest route problem and solution approach; The minimal spanning
tree problem and solution approach; The maximal flow problem and
solution approach
Pre-requisites: SQC and Computer programming
Textbook: Bernard W. Taylor , Introduction to Management Science,
Prince Hall ,USA, 1996
References:
1. Bernard W. Taylor , Introduction to Management Science, Prince
Hall ,USA, 1996