Operations Management and Decision Models

Catalog description

This core course focuses on levers for structuring, managing, and improving a firm's recurring business operations processes to achieve competitive advantage in customer responsiveness, price, quality, and variety of products and services. Critical to effective management of operations is the ability to model decisions. Successful decision making requires the ability to structure complex problems, critically analyze options in a constantly changing world of work, and making the best decision given the information available. Students learn how to evaluate and apply analytical tools including optimization, simulation, and decision trees to examine and implement managerial decision models. Business applications include resource allocation, risk analysis and sequential decision-making through time.