BA4201 Quantitative Techniques for Decision Making Syllabus:
BA4201 Quantitative Techniques for Decision Making Syllabus – Anna University PG Syllabus Regulation 2021
COURSE OBJECTIVE:
To apply quantitative techniques in modeling and solving business related problems.
UNIT I INTRODUCTION TO LINEAR PROGRAMMING (LP)
Relevance of quantitative techniques in management decision making. Linear Programming formulation, solution by graphical and simplex methods (Primal – Penalty, Two Phase), Special cases. Sensitivity Analysis.
UNIT II LINEAR PROGRAMMING EXTENSIONS
Transportation Models (Minimising and Maximising Problems) – Balanced and unbalanced Problems – Initial Basic feasible solution by N-W Corner Rule, Least cost and Vogel’s approximation methods. Check for optimality. Solution by MODI / Stepping Stone method. Case of Degeneracy. Transhipment Models. Assignment Models (Minimising and Maximising Problems) – Balanced and Unbalanced Problems. Solution by Hungarian and Branch and Bound Algorithms. Travelling Salesman problem. Crew Assignment Models.
UNIT III DECISION AND GAME THEORIES
Decision making under risk – Decision trees – Decision making under uncertainty. Game Theory-Two-person Zero sum games-Saddle point, Dominance Rule, Convex Linear Combination (Averages), methods of matrices, graphical and LP solutions.
UNIT IV INVENTORY AND REPLACEMENT MODELS
Inventory Models – EOQ and EBQ Models (With and without shortages), Quantity Discount Models. Replacement Models-Individual replacement Models (With and without time value of money) – Group Replacement Models.
UNIT V QUEUING THEORY AND SIMULATION
Queuing Theory – single and multi-channel models – infinite number of customers and infinite calling source.
Monte Carlo simulation – use of random numbers, application of simulation techniques
TOTAL: 45 PERIODS
COURSE OUTCOMES:
To understand the applications of
1. Linear programming in product mix decisions
2. Transportation and assignment in logistics and job allocation scenarios
3. Game theory and heuristics of decision making in real time decisions
4. Inventory management and replacement models in manufacturing context
5. Queuing and simulation in real time scenario optimisation
REFERENCES:
1. N. D Vohra, Quantitative Techniques in Management, Tata Mcgraw Hill, 2010.
2. G. Srinivasan, Operations Research – Principles and Applications, 2nd edition, PHI, 2011.
3. Paneerselvam R., Operations Research, Prentice Hall of India, Fourth Print, 2008.
4. Hamdy A Taha, Introduction to Operations Research, Prentice Hall India, Tenth Edition, Third Indian Reprint 2019.
5. Bernard W.Taylor III, Introduction to Management Science, 9th Edition, Pearson Ed.
6. Frederick & Mark Hillier, Introduction to Management Science – A Modeling and case studies approach with spreadsheets, Tata Mcgraw Hill, 2010.
7. Nagraj B, Barry R and Ralph M. S Jr., Managerial Decision Modelling with Spreadsheets, Second Edition, 2007, Pearson Education.