MSL740
| MSL740 | |
|---|---|
| Quantitative Methods in Management | |
| Credits | 3 |
| Structure | 3-0-0 |
| Pre-requisites | MSL301 & MSL302 |
| Overlaps | |
MSL740 : Quantitative Methods in Management
[edit]Module I : Role of quantitative methods and operations research for managerial decision making and support. Role of mathematical models in problem formulation and solving. Structure of decisions, statistical decision theory; decision making under uncertainty, risk, certainty. Decision Trees; Fuzzy Decision Making. Game theoretic applications. Mathematical Programming models- formulation and applications. Linear Programming- graphical method, Simplex technique; transportation, assignment and transshipment problems. Mixed Integer Programming. Module II : Non-Linear Programming, introduction to Quadratic Programming, Geometric Programming and Direct Search techniques. Multiple Criteria Decision making- Goal programming, TOPSIS and AHP. Module III : Sequential decisions using Dynamic Programming. PERT and CPM. Queuing theory- M/M/1 and M/M/n model. Monte Carlo System Simulation concepts and applications. Brief introduction to Non-traditional optimization. Case Study applications and use of OR software packages.