Syllabus
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Course Code: MBA -201 Course Name: Optimization Models for Business Decisions |
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| MODULE NO / UNIT | COURSE SYLLABUS CONTENTS OF MODULE | NOTES |
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| 1 | Management Science - Basic concepts and its role in decision- making. Linear programming, meaning, scope & assumptions. Formulation of linear programming problem and its solution by graphical and Simplex methods. THEORY OF GAMES: Introduction – Minimax (maximin) – Criterion and optimal strategy – Solution of games with saddle points – Rectangular games without saddle points – 2 X 2 games – dominance principle – m X 2 & 2 X n games. INVENTORY Models : Introduction – Single item – Deterministic models – Purchase inventory models with one price break and multiple price breaks – Stochastic models– Instantaneous production. Instantaneous demand and continuous demand and no set up cost. Application of Inventory management techniques in business. Sensitivity analysis. Integer programming, goal programming, and non-linear Programming. Transportation and Assignment models including trans-shipment and routing problems. Role and importance of PERT/CPM in business decision making; Decision theory and decision trees. SIMULATION analysis: simulation models – phases of simulation– applications of simulation, Waiting Lines: Introduction – Single Channel – Poisson arrivals – exponential service times, Multichannel – Poisson arrivals – exponential service times with infinite population single channel Poisson arrivals. |
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