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Optimization Models for Business Decisions
ISBN - 9789382249467
AUTHORS- Monika Gulati & Deepak Garg
₹260.00
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Kurukshetra University, MBA, Fourth SemesterSyllabus CP-202: Optimization Models for Business Decisions Max. Marks: 100External: 70Internal: 30Time 3 Hours Note: The examiner will set nine questions in all. Question No. 1, comprising of 5 short answer type questions of 4 marks each, shall be compulsory and remaining 8 questions will be of 10 marks out of which a student is required to attempt any 5 questions. Objectives: The objective of this course is to develop an understanding of basic management science techniques and their role in managerial decision – making. Course Contents: 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: 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.Sensitivity analysis. Integer programming, goal programming, and non-linear Programming. Transportation and Assignment models including trans-shipment and routing problemsApplication of Inventory management techniques in business; Role and importance of PERT/CPM in business decision making; Decision theory and decision trees. Simulation: simulation models – phases of simulation – applications of simulation – Inventory and Queuing problems – Advantages and Disadvantages. WAITING LINES: Introduction – Single Channel – Poisson arrivals – exponential service times, Multichannel – Poisson arrivals – exponential service times with infinite population single channel Poisson arrivals.
KUK2022/MBA/2/02
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