The objective of the course is to equip the student with basic quantitative tools required to perform the role as a manager.
• To do analytical evaluation and arrive at logical conclusions & inferences to the decisions.
An Introduction , Characteristics, Nature, Scope and Role of Operations Research and Quantitative Techniques, Scientific approach in decision-making, Techniques of OR, Limitations of these Techniques
Mathematical formulation of Linear Programming problems and their solution using Graphic approach and Simplex method, Primal and its dual.
Solving the problem. Testing the optimality MODI method. Cases of unbalanced problems, Degeneracy, Maximization objective, Multiple solutions and Prohibited Routes.
Assignment- Solving the problem. Cases of unbalanced problems, multiple optimum solutions, maximization objective and unacceptable assignments
Decision-Making under certainty, uncertainty and risk, Decision tree analysis
Theory of Games
Two persons Zero Sum games, Pure and Mixed strategy
• Operations Research”, J. K. Sharma, McMillan India
• Quantitative Techniques in Management”, N. D. Vohra, Tata McGraw Hill Publications
• Quantitative Methods for Business, Anderson Williams, 10th Edition Thopson
• Tulisian, Quantitative Techniques Theory and Problems, Pearson Education.
• S. D. Sharma, Operations Research, Kedar Nath and Ram Nath & Co. Ltd.
Links:
[1] https://www.foreigntrade.iisuniv.ac.in/courses/subjects/operations-research-1
[2] https://www.foreigntrade.iisuniv.ac.in/academic-year/2017-2018