Operations Research

Course Code: ACT 326

Credit Hour: 3

Course Group: Specialization Course: Accounting

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Introduction to Operations Research: Introduction, Historical Background, Scope of Operations Research, Features of Operations Research, Phases of Operations Research, Types of Operations Research Models, Operations Research Methodology, Operations Research Techniques and Tools, Structure of the Mathematical Model, Limitations of Operations Research.

Linear Programming: Introduction, Linear Programming Problem, Requirements of LPP, Mathematical Formulation of LPP, Case Studies of LPP, Graphical Methods to Solve Linear Programming Problems, Applications, Advantages, Limitations.

Graphical Analysis of Linear Programming Problems: Introduction, Graphical Analysis, Some Basic Definitions, Graphical Methods to Solve LPP, Some Exceptional Cases, Important Geometric Properties of LPP.

Simplex Method: Introduction, Standard Form of LPP, Fundamental theorem of LPP, Solution of LPP – Simplex Method, The Simplex Algorithm, Penalty Cost Method or Big M-method, Two Phase Method, Solved Problems on Minimization

Duality in Linear Programming Problem: Introduction, Importance of Duality Concepts, Formulation of Dual Problem, Economic Interpretation of Duality, Sensitivity Analysis.

Transportation Problem: Introduction, Formulation of Transportation Problem (TP), Transportation Algorithm (MODI Method), the Initial Basic Feasible Solution, Moving Towards Optimality.

Assignment Problem: Introduction, Mathematical Formulation of the Problem, Hungarian Method Algorithm, Routing Problem, Travelling Salesman Problem.

Infinite Queuing Models: Introduction, Queuing Theory, Operating Characteristics of a Queuing System, Constituents of a Queuing System, Service Facility, Queue Discipline.

Mathematical Analysis of Queuing Theory: Introduction, Mathematical Analysis of Queuing Process, Properties of Queuing System, Notations, Service System, Single Channel Models, Multiple Service Channels, Erlang Family of Distribution of Service Times, Applications of Queuing Theory, Limitations of Queuing Theory.

Finite Queuing Models: Introduction, Finite Queuing Models.

Simulation: Introduction, Methodology of Simulation, Basic Concepts, Simulation Procedure, Application of Simulation.

Simulation Monte-Carlo Method: Introduction, Monte-Carlo Simulation, Applications of Simulation, Advantages of Simulation, Limitations of Simulation.

Project Scheduling and PERT-CPM: Introduction, Basic Difference between PERT and CPM, PERT/CPM Network Components and Precedence Relationship, Project Management – PERT.

Game Theory: Introduction, Competitive Situations, Characteristics of Competitive Games, Maximin – Minimax Principle, Dominance.

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Text:

Hillier FS, Lieberman GJ, Nag B and Basu P (2001). Introduction to Operations Research, 9th edition. McGraw-Hill.

Reference Books:

Taha, H. A. (2016) Operations Research: An Introduction, 10th edition, Prentice Hall

Winston, W. L. (2003). Operations Research: Applications and Algorithms, 4th edition, Duxbury Press