This course is a thorough introduction to the techniques and models used in Operational Research (OR). Main aim of the course is the familiarity of the students with the thought and the logic of the scientific management by understanding, learning, using and applying the mathematical models and techniques of OR.
Content
The main topics covered are the following:
• Introduction in Operational Research
The nature of Operational Research, origin and history, stages in approaching OR problems, mathematical models and algorithms.
• Linear Programming
Mathematical model of Linear Programming, problem formulation, LP theory, Simplex method, sensitivity analysis. Solution of problems and case studies.
• Transportation and Transshipment problems
Mathematical model and its properties, initial feasible solution: the three main methods, best solution algorithm, special cases. Solution of problems and case studies.
• Inventory Management
Concept and importance of inventory, inventory cost elements, deterministic inventory systems. Solution of problems.
• Production Planning
The assignment problem, job scheduling in one, two or three machines, production line balancing. Solution of problems.
Structure
The corresponding theory is presented at the beginning, followed by application of the models taught in problem solving. The students practice in formulating the models, solving corresponding problems and decision making.
All chapters are fully supported by educational material in English.
Extensive use of power point and pdf files covering theory and applications.
Further support of the learning procedure through course’s web page.
Use of specialized software (Lindo, QSB+, MSIS).
Evaluation
– Written examination
Includes theoretical questions (20-30%) and problem solving (70-80%)
– Middle-term test
Optional participation with provisional addition (up to 20%) of the test mark to the final mark
Βy educational material in English, undertaking projects and/or exams
With the successful completion of the course the student is expected to:
• Recognize and understand thoroughly the concept and the logic of the Operational Research models
• Apply the algorithms and models of the main OR techniques included in course’s contents
• Practice and combine in formulating and preparing for solution short problems and case studies
• Recognize and explain the given data
• Be able to tackle relevant OR problems and case studies
• Calculate and apply in practice the results of the solved problems and case studies
• Evaluate and deduct conclusions from the results of the solved models
The student is also expected to be able after further practice to apply and use OR software for solving larger problems and case studies.
Alt, F. E., Fu, M. & Golden, B. (Eds). (2007). Perspectives in Operational Research: Papers in Honor of Saul Gass’ 80th Birthday. Vol. 35. Springer Series: Operations Research/Computer Science Interfaces Series.
Fogarty, D. W., Blackstone, J. H. and Hoffman, T. R. (1990). Production and Inventory Management, 2nd edition. South-Western.
Gass, S. & Assad, A. (2005). An Annotated Timeline of Operational Research: An Informal History. Kluwer Academic Publishers.
Hillier, F. and Lieberman, G. (2004). Introduction to Operations Research, 8th edition. N.Y.: Mc Graw – Hill.
Narasimhan, S. L., McLeavey, D. W. and Lington, P. B. (1995). Production Planning and Inventory Control, 2nd edition. Prentice Hall.
Taha, H. A. (2010). Operations Research, an Introduction. 9th edition. Prentice Hall.
Zipkin, P.H. (2000). Foundations of Inventory Management. N.Y.: Mc Graw-Hill/Irwin.
