Advanced Operations Research (Electives POM)

Paper Code: 
MBP-622
Credits: 
4.0
Contact Hours: 
40.00
Max. Marks: 
100.00
Objective: 
  • To help students in critical learning outcomes which include the ability to demonstrate high level analytical skills in the fields of multivariate analysis, time series analysis, inference, econometrics, stochastic processes and optimization.
10.00
Unit I: 
Introduction to Advanced Operations Research

Definition and Scope of OR, Model Building and its Applications.

8.00
Unit II: 
Replacement Problems

Different replacement situations, Individual replacement policy and group replacement policy.

8.00
Unit III: 
Data Modelling

Meaning of data modelling, skills in building stochastic models using Markov chains, understanding inventory/production control in light of stochastic models, applying methods for analysing decision problems under uncertainty and under risk

7.00
Unit IV: 
Sequencing Problems

Meaning and significance of sequencing in operations, sequencing methods

7.00
Unit V: 
Data Sensing

Introduction to data sensing, Identifying problems that arise with the building of statistical models, critical examination of data and performing appropriate statistical analysis.

Essential Readings: 
  • C. R. Kothari, “Quantitative Techniques”, Vikas Publishing House
  • Charles P Bonini, warren Hausman and Harold Bierman, Quantative analysis for management, Irwin/Mc Graw Hill
References: 
  1. Operations Research”, J. K. Sharma, McMillan India
  2. Quantitative Techniques in Management”, N. D. Vohra, Tata McGraw Hill Publications
  3. Quantitative Methods for Business, Anderson Williams, 10th Edition Thopson
  4. Tulisian, Quantitative Techniques Theory and Problems, Pearson Education.
  5. S. D. Sharma, Operations Research, Kedar Nath and Ram Nath & Co. Ltd.