Objectives and competences
The student will:
1. Understand the main concepts of deterministic modelling in operational research
2. Understand the main concepts of stochastic modelling in operational research
3. Become familiar with applicability of quantitative methods from operational research to manage various decision making and optimization problems in an organization.
Content (Syllabus outline)
1. Deterministic models in operational research
1.1 Linear programming
1.2 Integer programming
1.3 Sensitivity analysis
1.4 Transportation problems
1.5 Network models
1. Allocation methods
2. Stochastic models in operational research
2.1 Discrete Markov chains
2.2 Poisson process
2.3 Birth-death processes
2.4 Queuing theory
3. Practical applications in management
Intended learning outcomes - transferable/key skills and other attributes
Knowledge and understanding:
• In-depth understanding of deterministic methods from operational research,
• In-depth understanding of stochastic methods from operational research,
• Ability of practical application of deterministic and stochastic models of operational research to decision making and optimization problems,
• Ability of in-depth quantitative analysis of particular organizational problems considering information and production systems.
Readings
1. Brezavšček, A. (2021). Stohastični modeli v operacijskih raziskavah: skripta: študijsko gradivo za predmete Osnove kvantitativnih metod III in Kvantitativne metode III (str. 95). Fakulteta za organizacijske vede.
2. Čižman, A. (2004). Operacijske raziskave: teorija in uporaba v organizaciji (str. 195). Moderna organizacija.
3. Hudoklin, A. (2004). Stohastični procesi (6. izd.). Založba Moderna organizacija.
4. Hudoklin, A., Sabolek, R., & Brezavšček, A. (2000). Stohastični procesi: Zbirka rešenih nalog. Založba Moderna organizacija.
5. Hillier, F. S., & Lieberman, G. J. (2015). Introduction to operations research (10th ed., str. XXX, 1010). McGraw-Hill Higher Education.
6. Hillier, F. S., & Hillier, M. S. (2019). Introduction to management science: A modeling and case studies approach with spreadsheets (6th ed.). McGraw-Hill Education.
7. Camm, J. D., Cochran, J. J., Fry, M. J., Ohlmann, J. W., Anderson, D. R., Sweeney, D. J., & Williams, T. A. (2022). An introduction to management science: Quantitative approaches to decision making (16th ed.). Cengage Learning
8. Hillier, F. S., & Lieberman, G. J. (2024). Introduction to operations research (2024 release). McGraw-Hill Education.
