Applying Models in Management

Course	T-808-NOLI
Semester	20243
ETCS	8
Core	No

Year	1. year
Semester	Fall 2024
Level of course	6. Second cycle, advanced
Type of course	Elective
Prerequisites	T-101-STA1, Calculus I T-302-TOLF, Statistics I T-403-ADGE, Operation Research T-502-HERM, Simulation
Schedule	No schedule found.
Lecturer	No lecturer found.
Content
This course is thought as a final course in the field of Operations Research ans Operations Management. Vey few new methods will be covered, the objective is rather to train students in designing and applying mathematical OR models in real life management. In each week we study a particular field of management, we analyse the role of this manager and his needs for quantitative methods and we try to search for his possibilities of applying mathematical models more than is done today. These particular fields will be marketing, inventory  management, production, distribution, service, financing, quality, executive manager and finally government. This takes 8 sessions with one home assignment after each session. There is also group work where students solve a self selected real life case.  Reading Material:   The following textbook will be used :    „Management Science Modeling“ by Winston & Albright   Note that we will not follow the textbook chapter by chapter as it is organized in a different way than the course.   Further reading:  „Optimization in Operations Research“ by Ronald L. Rardin.  Prerequisites:   The students must have a good knowledge in the field of Operations Research and Operations Management, including courses likeOperations Research, Simulation, Operational Analysis and Management II, or a similar knowledge from other courses. It is assumed that the students have already learned OR methods like Linear Programming, Simulation, Network Models, Queueing Theory, Forecasting Models, Integer Programming, Nonlinear Programming, Decision Theory etc. Also that they are have been exposed to some fields of Management like Quality Management, Production Management, Project Management and Financial management.
Learning outcome - Objectives
Upon completion of the course the student should be able to demonstrate knowledge and skills in the following: Understanding the fundamentals of the application of models in management. Be able to develop and use models and know about the possibilities and limitations of these. Have an overview over the most important types of practical models in Operations Research and training in designing them and applying in the various fields of management. Be able to develope OR models for managers with Excel and also other tools like MPL and Simul8. 5. Having had the training and developed the necessary insight to use mathematical models in real life situations.
Course assessment
Reading material
No reading material found.
Teaching and learning activities
Language of instruction	English