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home · studies

| Operations Research |
| Module Type: |
MELH |
| Module Code: |
930 |
| Syllabus: |
Use of quantitative methods for decision-making. The application of mathematical models
for describing business problems. Linear programming methods. Optimum solutions and sensitivity
analysis. Distribution, transferring and commissioning problems. Decision making problems under
certainty and uncertainty conditions. Methods for the analysis of alternative solutions.
Dynamic programming. Laboratory applications using specialised software packages. |
| Module Aims-Objectives: |
To acquaint students with various techniques employed for the optimisation of complex engineering economic problems.
Upon completing this module students should be able to:
1. Appreciate the use of patterns in every day business decision-making.
2. Make use of specialised software packages for solving linear programming problems and appreciate and assess the results.
3. Analyse the sensitivity and variation of the various optimisation parameters.
4. Identify the specific conventions (of certainty and uncertainty) under which decisions are taken.
5. Apply the appropriate methodology for the analysis and determination of the optimal solution in decision-making.
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| Bibliography: |
• P. Ipsilantis, "Operations Research", Hellene Publishing – ΙO� 1998.
• D. Ksirokostas, "Operations Research", Athens 1991
• G. Prastakos, "Mathematical programming for business decision making.", Athens 1991
• Zimmerman, "Operations Research", Aachen 1991.
• Hilier Liberman, Operations Research.
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