Introduction to operations research
Dr Harmindar Nath
3 points * Second semester * Two hours of lectures and one hour tutorial per week * Gippsland/Distance * Prerequisites: One Year 12 Mathematics or GAS1601
Objectives On the completion of this subject students should understand the nature of problems in OR; understand the concept of optimisation; be able to recognise and formulate a linear programming problem; be able to perform simple sensitivity analysis on LP problems when coefficients of the objective function or resources change; be able to use Monte Carlo simulation for solving simple chance generated problems; develop ability to make a decision under the conditions of certainty, uncertainty and risk; be able to apply the assignment and transportation models for optimisation purposes; be able to evaluate inventory holding plans using the economic-order-quantity model, economic production lot size model and quantity discounts for the EOQ model.
Synopsis The aims of this subject are to help students develop an interest in and understand the nature of the operations research discipline. The following topics are covered: what operations research is; relationship with management science; role of computers; introduction to modelling; programming of resources - problem identification, objective function and constraints, graphical solution approach, sensitivity analysis; transformation of resources - transportation, and assignment; travelling salesman problems; decision making - breakeven analysis, decision under certainty, uncertainty and risk, decision trees, expected value of perfect information, decision with sample information; systems planning - inventory models, waiting-line problems, and Monte Carlo simulation.
Assessment Assignments: 40% * Examination: 60%
Prescribed texts
Anderson D R and others An introduction to management science 7th edn, West, 1994
Recommended texts
Groebner D and Shannon P Introduction to management science Macmillan
Taha H A Operations research - an introduction 5th edn, Collier Macmillan, 1992
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