| Instructor: | David Rader |
| Time: | Monday Evening 5:30 - 9 PM at RHIT |
| Prerequisite: | Senior or graduate standing |
| Credits: | 4 |
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(1) How do companies decide how much of a product to make and where
to ship it?
(2) How companies deal with long-range planning of inventory levels
or manpower?
(3) How probability and simulation play an important role in the design
of various products and systems?
This course deals with formulating these and other problems as mathematical models. Such models have recently been used in all levels of business and industry because of spreadsheet packages such as Microsoft Excel, which has macros designed to solve mathematical problems.
The mathematical models we will be studying include linear programs, integer programs, and some network models such as maximum flow models and minimum cost network flow models. Also, we will look at inventory models (when to purchase inventory, and how much to get), simulation, and perhaps queueing models. In addition, we will look at how these and other models are currently being used to solve many real-world problems.
This is an applied math course for computer scientists, engineers ( especially
those with managerial aspirations) and, of course, mathematicians. It
is also a management course for the Engineering Management Graduate program.
It assumes a technical background and (some) experience with Excel.
"The importance of quantitative analysis in decision making ensures that training in operations research will continue to be valuable in obtaining employment. Employment opportunities will occur in the transportation, manufacturing, finance, and services sectors, where the use of quantitative analysis can achieve dramatic improvements in operating efficiency and profitability. "