April 18, 2014





    Second year

Quantitative Management 214   

First Semester   |  Credits: 16

Definition, development and testing of quantitative models. Optimisation of network models (minimum spanning tree, shortest and longest routes, maximum flow and minimum cost network flow problems). Project scheduling (PERT and CPM). Introduction to routing (travelling salesman and Chinese postman problems). Location of facilities (median problems, centre problems and problems with restrictions). Problem-solving with applicable software.

Quantitative Management 244   
Introduction to Optimisation and Modelling

Second Semester   |  Credits: 16

Linear programming (revision, graphical methods, simplex algorithm, duality and sensitivity). Modelling with linear programming. Transportation (modelling, transportation-simplex algorithm). Deterministic inventory control (ABC analysis, economic order quantity, quantity discounts, non-zero lead time, continuous production models, back orders). Problem solving with applicable software.


     Third year

Quantitative Management 318   
Optimisation and Decision Theory

First Semester   |  Credits: 24

Optimisation: Integer programming (modelling of 0-1, integer and mixed integer problems, branch-and-bound method). Non-linear programming problems. Assignment and transhipment problems. Goal programming. Dynamic programming (formulation and solution using networks).

Decision Theory: Decision analysis (basic concepts, risk and uncertainty, multi-criterion decision analysis, break-even analysis, marginal analysis, decision trees, utility theory, sensitivity analysis). Game theory. Financial and economic investment planning (principals of interest calculations, nominal and effective interest rates, evaluation methods and selection measures, replacement decisions). Decision trees and linear programming models in financial decision theory.

Quantitative Management 348   
Production and Stochastic Modelling

Second Semester   |  Credits: 24

Production Modelling: Introduction to forecasting (revision of the methods of Holt and  Winter, and linear regression). Computer applications of forecasting. Quality control (central limit theorem, confidence intervals, control charts). Applications in the manufacturing and service sectors. Production scheduling. Supply chain coordination, MRP, JIT. Problem-solving with applicable software.

Stochastic Modelling: Markov analysis (states, matrix of transition probabilities, equilibrium conditions). Queuing theory (modelling of arrival and service processes, birth-death processes, single and multiple service points, finite population, constant service times). Simulation (random numbers, Monte Carlo simulation, discrete event simulation, analysis of simulation output). Simulation of inventory and queuing models. Application with spreadsheets and simul8.

Terme en Voorwaardes(.pdf)
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