SCM 702: Principles of Management Science
In this course, students learn the concepts and development of analytical model building as used in global supply chain decisions. Topics include modeling for managerial decision making, emphasizing the formulation, solution, interpretation and limitations of linear programs, network models, integer programs, nonlinear programs and simulation, and queuing models for tactical and strategic business decisions related to supply chain management. To facilitate understanding and communication of the various models discussed in class, the course will make extensive use of spreadsheet-based applications for prescriptive and descriptive mathematical models.
- Improve decision making through the appropriate application of management science principles
- Demonstrate knowledge of various modeling and rational data-driven approaches to managerial decision making, including both normative techniques and descriptive models as well as their potential contributions to organizational effectiveness
- Design, construct, validate and interpret appropriate spreadsheet-based models for the analysis of individual and recurring managerial decision problems
- Utilize post-optimal solution information provided by those models to recommend appropriate actions and to evaluate the sensitivity of those recommendations to changes in environmental assumptions
Tools & Concepts:
- R1 Excel
- Prototype LP models
- Post-optimal sensitivity analysis
- Multicriteria decision problems
- Linear, nonlinear and network modeling
- Descriptive models
- Mixed integer and quadratic programs
- Queueing and simulation models
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