Week 1: Introduction to Decision Making withy Spreadsheet, Profit, Cost, and Revenue Models,
Breakeven Analysis, Formulation and assumptions of Linear Programing Problems, Graphical
Solution Method of solving Linear Programming Problems, Solving Linear Programming
Problems using MS Excel Solver, Special Cases of Linear Programming Problems: Alternate
optimal solution, unbounded problems, Infeasibility.
Week 2: Sensitivity Analysis, Range of optimality, Dual value, Limitations of classical sensitivity
analysis, Linear Programming Applications: Marketing (Media selection, Marketing Research),
Linear Programming Applications: Finance (Portfolio Management)
Week 3: Linear Programming Applications: Operations (Production Scheduling, A Make-or-Buy
Decision), Linear Programming Applications: workforce allocation, Advanced Linear
Programming Applications: Data Envelopment Analysis, Game Theory, Game Theory- B’s
perspective Dominance rule.
Week 4: Advanced Linear Programming Applications: Finance - Portfolio Models and Asset
Allocation for conservative and moderate risk-taking investor, Introduction to Revenue
management, Linear Programming Problem for Revenue Management
Week 5: Distribution and Network Models: Transportation Problem and Transhipment Problem,
Assignment Problem, Shortest Path Problem, Maximum flow problem, Production and
Week 6: Non-Linear Optimization Models: Markowitz Portfolio Model and its variants,
Forecasting adoption of a new product- Bass Forecasting Model, Application of Non-linear
Programming for Pricing, Project Scheduling: PERT/CPM, Earliest Starting and Earliest Finishing
times of activities, Forward Pass, Latest Starting and Latest Finishing times of activities,
Backward Pass, Slack.
Week 7: Project Scheduling for uncertain activities, Expected duration of an activity, Variance of
an activity, Finding the probability of a path meeting the deadline, Time–Cost trade-offs,
Crashing Activity Times, Linear Programming Model for Crashing, Inventory Models: Economic
Order Quantity (EOQ) Model, Non-Linear Programming for finding EOQ, Reorder point.
Inventory Model with Planned Shortages.
Week 8: Quantity Discounts for the EOQ Model, Single-period Inventory Model with
Probabilistic Demand, Multi-Period Order-Quantity, Reorder Point Model with Probabilistic
Demand, Periodic Review Model (P-type) with Probabilistic Demand, Financial risks associated
with the development of a new product: Simulation, Risk Analysis.
Week 9: Waiting Line Models Structure of a waiting line System, Single-Server waiting line
model with Poisson Arrivals, Multiple-Server waiting line model with Poisson Arrivals, other
waiting line models
Week 10: Simulation: Risk Analysis: What-if analysis, Inventory simulation, Waiting Line
simulation, Simulation with two Quality Inspectors, other simulation issues.
Week 11: Decision Analysis: Formulation, Decision Making without Probabilities, Decision
Making with Probabilities, Risk and Sensitivity Analysis, Computing Branch Probabilities with
Baye’s Theorem, Utility Theory
Week 12: Multi criteria Decisions, Time Series Analysis and Forecasting Time Series Patterns,
Moving Averages and Exponential Smoothing, Linear Trend Projection, Seasonality, Conclusion.