Stochastic Models for Operations and Supply Chain Management

Catalog description

Provides the theoretical foundation in stochastic processes necessary to analyze complex systems that exhibit random behavior over time, which regularly arise in operations and supply chain management. Introduces the basic concepts of stochastic processes, describe the types of stochastic processes most commonly used in the study of operations and supply chain management, discuss how to identify the appropriate type of process to model a given system, and demonstrate the methods used to model and analyze stochastic systems.