DSCI-305 Introduction to Management Sciences and Production

DSCI-305 Introduction to Management Sciences and Production Systems Spring 2009 Course Information Course title: Course Number: Course description: Introduction to Management Sciences and Production Systems DSCI-305-M01 Focus on the use of quantitative methods and models of potential means to facilitate managerial decision-making in modern business enterprises. Study of the most widely utilized operations research/management science and production planning models, along with their solution techniques. Use of computers and decision-science software to aid management decisionmaking. Prerequisite(s) MATH-132, DSCI-207 and ITM-200 (formerly MIS-200) Instructor Information Name: Email: Biography: Office hours: Marta Moreno morenom@slu.edu Terminal Degree: Ph.D Econometrics (Universidad Carlos III de Madrid) Everyday 13:00-15:00 and by appointment. Padre Arrupe Hall, First Floor Learning Objectives After completing DSCI 305:       Students shall know the definitions of specific terms related to the nature of management science and production systems Students shall be able to formulate, solve and interpret linear programming (LP) utilizing computer software programs. Students shall be able to formulate, and solve and interpret network models utilizing computer software programs and the algorithms involving manual solutions. Students shall be able to formulate, solve and interpret a variety of inventory and production models. Students shall be able to formulate, solve and interpret the variety of decision analysis models, both with and without probabilities. Students shall be able to formulate, solve and interpret the expected values of different management decisions. Text books Required reading: Contemporary Management Science – With Spreadsheets, Anderson, Sweeney & Williams, International Thompson Publishing, 2004. Recommended reading: Spreadsheet Modeling & Decision Analysis: a practical introduction to management science, Cliff T. Ragsdale. South-Western College Pub., 2001. Policies Grading system: Two midterms and one final will be given. They will emphasize the material presented in class but will also cover the reading assignments. It is necessary to pass this course to have at least 75% of the cases done. Additional Information  15% cases, quizzes  25% first midterm  25% second midterm  10% EXCEL exam  25% final exam Attendance: Although not mandatory, I strongly urge you to attend all classes. On the other hand, you will be responsible for any announcements, information, problems or course changes that are made in all lectures. Reading chapters will be assigned for each lesson, it is your responsibility to prepare the classes beforehand. Academic Integrity: I expect that every student registered in this course will follow the university Code of Student Academic Responsibility. Examples of academic dishonesty would be copying from another student, copying form a book or class notes during a closed-book exam, submitting materials authored by or editorially revised by another person but presented as the student’s own work, copying a passage or text directly from a published source without appropriately citing or recognizing that source, taking a test or doing an assignment or other academic work for another student, tampering with another student’s work, securing or supplying in advance a copy of an examination without the knowledge or consent of the instructor, and colluding with another student or students to engage in an act of academic dishonesty. Where there is clear indication of such dishonesty a faculty member or administrator has the responsibility to apply appropriate sanctions. Recommendations of sanctions to be imposed will be made to the Academic Dean. Possible sanctions for a violation of academic integrity include, but are not limited to, disciplinary probation, suspension, and dismissal from the University. For more information concerning academic dishonesty, refer to the Academic Conduct Policy at http://spain.slu.edu/academics/ac_policies.html Important Dates: January 21st : Last day to ADD/DROP classes. February 13th : First Midterm. 14:00. March 27th : Second Midterm. 14:00. April 1st : Last day to drop a class and receive a “W”. May 8th: Final Exam 9:30. COURSE OUTLINE 1. Introduction to Decision Theory (Chapter 1)  Problem Solving and Decision Making  Introduction to Quantitative Analysis  Models of Cost, Revenue and Profit 2. Introduction to Linear Programming (Chapter 2)  Maximization and Minimization Problems  Graphical Solution Procedure  Formulating Spreadsheet Models 3. Linear Programming: Sensitivity Analysis (Chapter 3)  Sensitivity Analysis  More Than Two Decision Variables 4. Linear Programming Applications (Chapter 4)  Marketing Applications  Financial Applications  Production Management Applications  Blending Problems 5. Transportation, Assignment and Transhipment Problems (Chapter 5)  The Transportation Problem  The Assignment Problem  The Transhipment Problem 6. Integer Linear Programming (Chapter 6)  Types of Integer Programming  Graphical Solution  Applications Involving 0-1 Variables 7.Waiting Line Models (Chapter 7)  Structure of a Waiting Line System  Waiting Line Models 8. Simulation (Chapter 8)  Risk Analysis  Inventory Simulation  Waiting Line Simulation 9. Decision analysis (Chapter 9)  Structuring the Decision Problem  Decision Making with and without Probabilities  Decision Analysis with Sample Information  Computing Branch Probabilities