Quantitative Techniques For Manager

Syllabus

UNIT I                                                                                                                                     (6Sessions)

Operations Research & Decision Making Environments

Operations Research: Uses, Scope and Applications of Operation Research in managerial decision-making. Decision-making environments: Decision-making under certainty, uncertainty and risk situations; Decision tree approach and its applications.  

UNIT II                                                                                                                                  (10Sessions)

Linear Programming Problem & Transportation Problem

Linear programming: Mathematical Formulations of LP Models for Product-Mix Problems; Graphical and Simplex Method of Solving LP Problems; Duality.

Transportation Problem: Various Methods of Finding Initial Basic Feasible Solution-North West Corner Method, Least Cost Method & VAM Method and Optimal Solution-Stepping Stone & MODI Method, Maximization Transportation Problem

UNIT III                                                                                                                                  (8Sessions)

Assignment Model & Game Theory

Assignment model: Hungarian Algorithm and its applications, Maximization Assignment Problem.

Game Theory: Concept of game; Two-person zero-sum game; Pure and Mixed Strategy Games; Saddle Point; Odds Method; Dominance Method and Graphical Method for solving Mixed Strategy Game.

UNIT IV                                                                                                                                   (6Sessions)

Sequencing & Queuing Theory

Sequencing Problem: Johnsons Algorithm for n Jobs and Two Machines, n Jobs and Three Machines, Two jobs and m - Machines Problems.

Queuing Theory: Characteristics of M/M/I Queue Model; Application of Poisson and Exponential Distribution in Estimating Arrival Rate and Service Rate; Applications of Queue Model for Better Service to the Customers.

UNIT V                                                                                                                                    (6Sessions)

Replacement Problem & Project Management

Replacement Problem: Replacement of Assets that Deteriorate With Time, Replacement of Assets Which Fail Suddenly.

Project Management: Rules for Drawing the Network Diagram, Applications of CPM and PERT Techniques in Project Planning and Control; Crashing of Operations.