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Decision making with spreadsheet

By Prof. Ramesh Anbanandam   |   IIT Roorkee
Learners enrolled: 361
About the Course:
This course aims to provide Undergraduate and Graduate students with a sound conceptual understanding of the role that management science plays in decision-making process. This course is applications oriented and continues to use the problem-scenario approach. A problem is described in conjunction with the management science model being introduced. The model is then solved to generate a solution and recommendation to management.

INTENDED AUDIENCE : Undergraduate and Post Graduate students interested in operations management.

INDUSTRY SUPPORT : All analytics companies
Summary
Course Status : Upcoming
Course Type : Core
Duration : 12 weeks
Start Date : 23 Jan 2023
End Date : 14 Apr 2023
Exam Date : 30 Apr 2023 IST
Enrollment Ends : 30 Jan 2023
Category :
  • Operations
  • Management Studies
Credit Points : 3
Level : Undergraduate/Postgraduate

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Course layout

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
Inventory problem.


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.

Books and references

  1. Introduction to Operations Research by Frederick Hillier, Gerald Lieberman.
  2. Operations Research: An Introduction, 6th Edition by Hamdy A. Taha, University of Arkansas, Fayetteville.
  3. Introduction to Management Science: Quantitative Approaches to Decision Making, by David Anderson, Dennis J. Sweeney, Thomas Arthur Williams.

Instructor bio

Prof. Ramesh Anbanandam

IIT Roorkee
Professor Ramesh Anbanandam is working as an Associate Professor in the Department of Management Studies, IIT Roorkee, India. He is also Joint faculty of the Center of Transportation Systems, IIT Roorkee. He did Ph.D. from IIT Delhi and M.Tech from NIT Trichy. His research area includes humanitarian supply chain management, multimodal freight transportation, sustainable mobility, healthcare waste management, and data-driven decision-making modeling. He has published more than 40 research papers in reputed journals and conferences. He was also organized international conferences, TEQIP training sessions, and NPTEL online courses. He is a regular reviewer of many peer-reviewed journals and actively participating in various seminars, talks, and conferences in India and abroad.

Course certificate

The course is free to enroll and learn from. But if you want a certificate, you have to register and write the proctored exam conducted by us in person at any of the designated exam centres.
The exam is optional for a fee of Rs 1000/- (Rupees one thousand only).
Date and Time of Exams: 
30 April 2023 Morning session 9am to 12 noon; Afternoon Session 2pm to 5pm.
Registration url: Announcements will be made when the registration form is open for registrations.
The online registration form has to be filled and the certification exam fee needs to be paid. More details will be made available when the exam registration form is published. If there are any changes, it will be mentioned then.
Please check the form for more details on the cities where the exams will be held, the conditions you agree to when you fill the form etc.

CRITERIA TO GET A CERTIFICATE

Average assignment score = 25% of average of best 8 assignments out of the total 12 assignments given in the course.
Exam score = 75% of the proctored certification exam score out of 100

Final score = Average assignment score + Exam score

YOU WILL BE ELIGIBLE FOR A CERTIFICATE ONLY IF AVERAGE ASSIGNMENT SCORE >=10/25 AND EXAM SCORE >= 30/75. If one of the 2 criteria is not met, you will not get the certificate even if the Final score >= 40/100.

Certificate will have your name, photograph and the score in the final exam with the breakup.It will have the logos of NPTEL and IIT Roorkee.It will be e-verifiable at nptel.ac.in/noc.

Only the e-certificate will be made available. Hard copies will not be dispatched.

Once again, thanks for your interest in our online courses and certification. Happy learning.

- NPTEL team


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