Optimization Analytics for Supply Chain

Catalog description

The objective of this course is to enable you to use mathematical models to help make better decisions for organizations, which a goal of the Master of Supply Chain Management program. General model building techniques are provided and illustrated with many Supply Chain decision problems. You will also learn to classify your model based on its mathematical properties so that you can identify an appropriate computer package to obtain the solution. Because of their importance, significant time is devoted to formulating linear programming models using a variety of examples. You will see how to obtain and interpret a solution from a computer package in EXCEL and how to use the associated output to answer "What-happens-if" questions that arise after solving the problem. You will also get an introduction to formulating and solving other optimization problems in the areas of integer programming, networks, combinatorial optimization, and nonlinear programming. The art of formulating problems, understanding what is involved in solving them, and obtaining and interpreting the solution from a computer package are shown. A comparison with linear programming problems is provided as a way of understanding the advantages and disadvantages of these other models and their solution procedures. Prereq: Enrolled in the Master of Supply Chain Management program. Prereq or Coreq: SCMG 492 or BUAI 492 or DESN 210 or Requisites Not Met permission.