Modeling and Decision Analysis

This course includes Simulation, Queuing Theory, Inventory Control and Operations Research. This course provides concepts of computation through modeling and simulation. Simulation model can be used to produce new products and to evaluate designs the impacts of alternative approaches. Operations research provides the solutions to problems in different environments that need decision makings. Linear programming model provides to use quantitative methods and techniques for effective decisions making. This course consists of the overview of the mathematical tools used in queuing theory to solve the real world problems.

Operations Research is the study of scientific approaches to decision-making. Through mathematical modeling, it seeks to design, improve and operate complex systems in the best possible way. The mathematical tools used for the solution of such models are either deterministic or stochastic, depending on the nature of the system modeled. In this class, we focus on basic deterministic models and methods in Operation Research as well as stochastic models. In this class, you will learn very powerful modeling and solution techniques for decision-making problems that are used today by many successful companies to help them earn millions of dollars. The module covers the following topics: linear programming, transportation, assignment, dynamic programming and integer programming. Analytic techniques and computer packages will be used to solve problems facing business managers in decision environment.

Upon the successful completion of this course, students should be able to:

• Apply and develop operational research models from the verbal description of the real system.
• Understand the mathematical tools that are needed to solve optimization problems.
• Apply mathematical software to solve the proposed models.
• Develop a report that describes the model and the solving technique,
• Analyze the results and propose recommendations in language understandable to the decision making processes in management Engineering.

Textbook:

1. Introduction to Operations Research, seventh Edition, Hillier / Lieberman

References:

1. Introduction to Operations Research, , Joseph G.ECKER, MICHAEL KUPEERS CHMID
2. Spreadsheet Modeling and Decision Analysis, Cliff Ragsdale,  5th & 6th    Edition
3. Operations Research: Applications and Algorithms, 4th Edition, Wayne L Winston