As modern organizations have become more complex, managers must rely on models as providers of important decision-making information. This course describes many of the models available to analyze decision problems in various functional fields including operations, finance, and marketing. A sample of examples including production planning, scheduling, capital budgeting, portfolio selection, transportation, plant location, and distribution planning will be introduced. Microsoft Excel and some of its powerful add-ins will be used to develop models useful for analyzing decision problems. The focus in this course will be on the use of the methods, not the mathematical details associated with the models.
- Learn how to construct an optimization model using spreadsheet.
- Apply linear programming in making decision in the area of operation management such as production mix, personnel scheduling, aggregate planning and multi period production models.
- Use mixed integer linear programming tool in making decision in the areas of capital budgeting and plant location
- Learn to create and use non linear programming in portfolio optimizations and pricing models.
- Learn how to use goal programming and Trade-off-Curves in making decision of multiple objectives.