Course Page

Optimization Models for Operations

Course Number:

45854


Faculty

Francois Margot, fmargot@andrew.cmu.edu


Program

MBA


Concentrations

Operations Management, Quantitative Analysis


Course Description

In a dynamic, competitive world, an organization's effectiveness depends significantly on how well its resources are managed, placing much emphasis on both strategic as well as day-to-day decisions regarding its operations. Historically, ‘operations’ have been the main application area for operations research or management science techniques (hence the name operations research), especially in the areas related to scheduling, manufacturing, and logistics processes of a company. Currently these traditional problems and the associated solution techniques, enjoy much extensive, and quite successful, application areas in real life, including healthcare, public policy, marketing, telecommunication, finance, and even biotechnology. Consequently, informed decision making, based on mathematical models and solution techniques, has become essential for successful implementation of operations at wide range of organizations. This course focuses on the use of optimization techniques to aid the decision making for typical operations problems while covering cutting-edge real-life applications in a wide range of application areas, to exemplify the applicability of the skills you will learn in this class in different settings. The course consists of two pillars: i) applying general modeling and solving techniques, e.g., integer linear programming, to operations, and ii) studying prototypical applications of operations in detail. The primary objectives of this course are to allow the student to: * understand the role of operations in a business, industrial, or governmental environment, * recognize the difficulty, challenges, and potential of operations problems, * apply mathematical tools to model and solve operations problems. Pass/Fail Option: Allowed Textbook: Not required, but will point to reference books and literature. (10/12-FM)


Format

Lecture: 100min/wk and Recitation: 50min/wk


Pre-requisites

None