Modeling of Processes and Systems
- • enable students to see that many managerial decision-making situations can be addressed using standard techniques and problem structuring methods
- • provide a comprehensive and concise introduction to the key techniques and problem structuring methods used within management science that are directly relevant to the managerial context
- • enable students to see both the benefits, and limitations, of the techniques and problem structuring methods presented.
- be able to discuss the main techniques and problem structuring methods used within management science
- to be able to carry out simple exercises using such techniques and problem structuring methods themselves (or explain how they should be done)
- Problem structuring and problem structuring methodsproblem structuring methods such as JOURNEY (JOintly Understanding, Reflecting, and NEgotiating strategY) making, Soft Systems Methodology and Strategic Choice.
- Inventory controlproblems that arise in the management of inventory (stock); Economic Order Quantity, Economic Batch Quantity, quantity discounts, probabilistic demand, Materials Requirements Planning, Just-in-Time, Optimised Production Technology and supply chain issues.
- Markov processesapproaches used in modelling situations that evolve in a stochastic (probabilistic) fashion though time; systems involving both non-absorbing and absorbing states.
- Mathematical programming formulationthe representation of decision problems using linear models with a single objective which is to be optimised; the formulation of both linear programs and integer programs.
- Queueing theory and simulationthe representation and analysis of complex stochastic systems where queueing is a common occurrence; M/M/1 queue; discrete event simulation
- An introduction to management science : quantitative approaches to decision making, , 2017
- Rational analysis for a problematic world revisited : problem structuring methods for complexity, uncertainty and conflict, Rosenhead, J., 2009
- Taha H.A. Operations Research: An Introduction, 10-th Edition, Pearson Education Limited, 2017. – 849 p. – ISBN: 9781292165561