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: Financial Risks associated with the development of a new product, Inventory Simulation, Waiting Line Simulations.
Week 10: Decision Analysis, Decision Trees, Payoff Tables, Decision Making with and without Probabilities, Risk Analysis, Sensitivity Analysis, Computing Branch Probabilities with Baye’s Theorem, Utility Theory
Week 11: Formulation of Goal Programming, Multicriteria Decisions - Analytic Hierarchy Process (AHP), Pairwise Comparisons, Consistency Ratio, Overall Priority Ranking.
Week 12: Time Series Analysis and Forecasting Time Series Patterns, Moving Averages and Exponential Smoothing, Linear Trend Projection, Seasonality, Conclusion.
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