CONTRIBUTERS: Prof. (Gp. Capt.) D.P. Apte Prof. (Gp. Capt.) Suhas Jagdale Prof. Anagha Gupte Anjali Mote
MIT School of Business
PGDM – 30th Batch Syllabus Subject Name: Operations Research Semester – II Subject Code: 203
Effective decision-making is the key to a manager’s success. Enhancement of productivity, optimum use of available resources and maximization of achievement of goals are important to the survival of an organization in today’s fiercely competitive world. Operations research provides mathematical & scientific tools for effective decision making. Objective of the course is to introduce students to few such tools and make them aware of how these tools help the manager to improve his decision making as compared to decisions based on subjective judgment or intuition.
There are many optimization techniques, decision tools and quantitative methods which help in improving manager’s decision. All these can be generically called as ‘Operations Research’. Being highly mathematical and involving complex calculations, managers tend to avoid their use or leave them to the specialist. With advent of computers and various software packages, there is some interest in using these tools. However, still these have remained as ‘black box’ where
managers blindly use the packages handed over to them by experts in mathematics, statistics and IT. There is a need for managers to develop clear understanding about these tools. The subject is proposed to be covered in four phases viz. developing conceptual knowledge, using the tools to simple problems with hand calculations, using computer to solve complex problems, and discussing few cases. MS Excel is used as computer package to develop simple templates to solve problems. Within available time only few OR techniques are included in the course. However, students are advised to familiarize themselves with other techniques on their own. Further, students are advised to solve few problems using MS Excel, as well as by hand calculations.
203.1. Introduction to OR 203.1.1. Overview of various techniques in OR. 203.1.2. Use of MS Excel for problem solving. 203.1.3. Process of using OR tools. 203.1.4. Introduction of the software. 203.2. Mathematical Programming 203.2.1. Concept, assumption & limitations. 203.2.2. Development of LP Model. 203.2.3. Solution by graphical method (only for purposes of understanding). 203.2.4. Use of MS Excel, to solve LP problems. 203.2.5. Caselets/Cases in LP. 203.3. Transportation Problem 203.3.1. Concept, assumptions & limitations. 203.3.2. Use of MS Excel, to solve transportation problem. 203.3.3. Transshipment problem. 203.3.4. Caselets/Cases in Transportation Problem. 203.4. Assignment Problem 203.4.1. Concept, assumption and limitations. 203.4.2. Use of MS Excel to solve assignment problem. 203.4.3 Caselets/Cases in Assignment Problem.
203.5.1 203.5.2 203.5.3 203.5.4 203.5.5
Concept, types, and applications. Smoothing Methods. Decomposition methods of forecasting. Forecasting Models. Caselets/Cases in Forecasting.
203.6 Queuing Theory 203.6.1 203.6.2 203.6.3 203.6.4 203.6.5 Concept of queuing theory. (M/M/I): (GD/ ∞ / ∞) model. Other Queuing Models (Open Book). General Queues. Caselets/Cases in Queuing.
203.7 Simulation 203.7.1. Concept, types & applications. 203.7.2. Random numbers and their use for simulation. 203.7.3. Practical hand simulation problems. 203.7.4 Caselets/Cases on computer based simulations.
Recommended Reading a) Quantitative Techniques in Management, N. D. Vohra, 3rd edition, TATA McGRAW HILL. b) Operations Research, R. Panneerselvan; Prentice-Hail of India, New Delhi. c) Principles of Operations Research for Management, Frank S. Budnick, McLeavy, Mojena; A.I.T.B.S. Publishers. d) Operations Research, Winston, Cengage Learning e) An Introduction to Operations Research, C.R. Kothari; Vikas Publications. f) Operations Research:...