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COURSE STUDY GUIDE OF MANAGEMENT SCIENCE

COURSE INTRODUCTION

This course is an introduction to the basic theory underlying Management Science and
Operations Research. It focuses on linear programming, the fundamental concepts, and
algorithms. Applications drawn from different functional areas of business will also be
presented. In particular, the course will cover a variety of applications of management science
in the areas of finance, marketing, and production such as capital budgeting, optimal sales
allocation, and scheduling and distribution. Special cases of linear programming problems, such
as the transportation problem and assignment problems will also be studied

COURSE OUTLINE

WEEK TOPIC
1 Introduction to Decision Theory
 Problem Solving and Decision Making
 Introduction to Quantitative Analysis
 Models of Cost, Revenue and Profit

2 Introduction to Linear Programming
 Maximization and Minimization Problems
 Graphical Solution Procedure
 Formulating Spreadsheet Models

3 Linear Programming: Sensitivity Analysis
 Sensitivity Analysis
 More Than Two Decision Variables

4 Linear Programming Applications
 Marketing Applications
 Financial Applications
 Production Management Applications
 Blending Problems
 Simplex Method

5 Transportation, Assignment and Transshipment Problems
 The Transportation Problem
 The Assignment Problem
 The Transshipment Problem

6 Network Models
 Shortest-Route Problem

 Analytic Hierarchy Pro (Tulsian & Pandaey. . 2004)ess  Using AHP to Develop an Overall Priority Ranking 15 Forecasting  Component of Time Series  Smoothing Methods  Trend Projection  Trend and Seasonal Components.  Project Scheduling with Uncertain Activity Times  Considering Time-Cost Trade Offs 10 Waiting Line Models  Structure of a Waiting Line System  Single-Channel. Multiple-Channel  Economic Analysis of waiting Lines 11 Simulation  Risk Analysis  Inventory Simulation  Waiting Line Simulation 12 Decision analysis  Structuring the Decision Problem  Decision Making with and without Probabilities  Decision Analysis with Sample Information  Computing Branch Probabilities 13 Multi-criteria Decisions  Goal Programming  Scoring Model 14 Multi-criteria Decisions Contd.  Minimal Spanning Tree Problem  Maximum Flow Problem 7 Project Scheduling: PERT/CPM  Project Scheduling with known Activity Time  Project Scheduling with Uncertain Activity Times 8 MID TERM EXAM 9 Project Scheduling: PERT/CPM Contd.

A. Tulsian. J. D. & T. Transportation. R. Linear Programming Applications. 3-18). 153-168). A. R. Sweeney. Anderson. Tulsian.24). Week 4 Linear Programming Applications Key reading (2009). An Introduction to Management Science (pp. Williams. J. & V. D. Quantitative Techniques (pp. Anderson. C. D. Assignment and Transshipment Problems Key reading (2009). An Introduction to Management Science (pp.1- 4. Assignment and Transshipment Problems. In D. D. C. R. Assignment Problem. An Introduction to Management Science (pp. Williams. Week 3 Linear Programming: Sensitivity Analysis Key reading (2009).1-5. & T. D. An Introduction to Decision Theory. Linear Programming. In D. A. A. An Introduction to Linear Programming. & T. 31-60). An Introduction to Management Science (pp. R. J.1- 1. An Introduction to Management Science (pp.57). In P. In P. Pandaey. Week 5 Transportation. Anderson. 306-350). J. & V. A. Williams. Sweeney. Anderson. Week 2 Introduction to Linear Programming Key reading (2009). In D. R. Pandaey. In P. Williams. 4. & T. (2004). (2004). Pandaey. J.43). Anderson. & T. Transportation Problem. (2004).16 Markov Processes  Market Share Analysis  Account Receivable Analysis FINAL TERM EXAM READING Week 1 Introduction to Decision Theory Key readings (2009). Sweeney. Quantitative Techniques (pp. Williams. In D. & V. Sweeney. 96-122). C. . Sweeney. Linear Programming Sensitivity Analysis. 1. Tulsian. Quantitative Techniques (pp. 5. In D.

In P. Week 10 Waiting Line Models Key reading (2009). Resource Allocation and Smoothing. Simulation. In D. Tulsian. Sweeney. Tulsian. 9.1-8. (2004). A. & V. 11. Pandaey. D. 6. Project Scheduling: PERT/CPM. Pandaey. Course Study Guide for Management Science cont’d 7 Week 7 Project Scheduling: PERT/CPM Key reading (2009). 306-350). (2004).1-7. D. A. Pandaey. Tulsian. Anderson. & V. Sweeney. In P. C. (2004). Quantitative Techniques (pp. Pandaey. & T. J.8). R. An Introduction to Management Science (pp. 8. An Introduction to Management Science (pp. & T. D. Crashing. Tulsian. Week 9 Project Scheduling: PERT/CPM Contd. In P. Quantitative Techniques (pp.1-9.41). Sweeney. & V. D. J. R. Quantitative Techniques (pp. & T. & V. Tulsian. J. J. Quantitative Techniques (pp. Anderson. J. In D. Project Scheduling: PERT/CPM. Tulsian. Network Models.1-11. Cretical Path Method (CPM). J. In D. 428-446). Queueing Theory. Pandaey.1-6.4). A. A. Pandaey. An Introduction to Management Science (pp. In P.70) (2004). & T. C. 306-350). & T. Anderson. R. In P. Decision Tree. (2004). Anderson. Anderson. 7. C. In D. A. An Introduction to Management Science (pp. Sweeney.1-12. Decision Analysis. . R. D. 12.Week 6 Network Models Key reading (2009). PERT. Week 11 Simulation Key reading (2009). Anderson. Week 12 Decision Analysis Key reading (2009). Williams. Sweeney. In D. An Introduction to Management Science (pp. Quantitative Techniques (pp. In D. Williams. R. Key reading (2009). A. D. Quantitative Techniques (pp. Williams. C. 306-350). C. & T. & V. Sweeney. An Introduction to Management Science (pp. 585-619). In P. Simulation. 306-350). R. (2004). C. Williams. & V.8). Waiting Line Models.2). Williams. Williams.

Forecasting. Multicriteria Decisions. J. D.youtube. Sweeney.youtube. R. & T. Markov Process.com/watch?v=DVEbZ__FNRg&feature=related Time series Analysis http://www. D. In D. & T. Williams. 808-821).com/watch?v=18GWVtVAAzs Week 15 Forecasting Key reading (2009). A. A. An Introduction to Management Science (pp. R. 712-742). Sweeney. R. Sweeney. In D. 758-784). An Introduction to Management Science (pp. Williams. Anderson. Further reading Analytical Hierarchical Process http://www.com/watch?v=cC2kE2RcN68 Week 16 Markov Processes Key reading (2009). & T. . J. In D. Williams. Anderson. Further reading Forecasting http://www. D. A. Anderson.Week 13 & 14 Multicriteria Decisions Key reading (2009). An Introduction to Management Science (pp.youtube. J.