Operations AnalysisLaajuus (3 ECTS)

Objective

After completing the course the student can solve optimization and decision problems. The student understands operations analysis as the analytical basis of industrial management, enterprise resource planning and logistics. The student can take advantage of relevant literature and he/she can produce high quality written documents that apply operations analysis.

Content

Linear optimization, Simplex method. Network models. Decision analysis and game theory. Transportation models. Resource allocation problems. Queing theory. Basics of inventory theory. Excel and other computer programs in operations analysis.

Qualifications

Functions and Vectors.
Derivative and Integral.
Matrices and Linear Methods in Industrial Management.
Business Mathematics.
Statistical Methods.

Assessment criteria, satisfactory (1)

The student can solve basic linear programming problems using Excel. The student can solve basic problems involving networks. The student understands how operations analysis is the basis of resource planning.

Assessment criteria, good (3)

The student can solve complicated linear programming problems of different types using Excel and other operations analysis programs (e.g. TORA). The student can interpret the results, especially the shadow prices. The student has familiarized himself/herself with network models, queuing systems, mathematical inventory models, basics of game theory and analytic decision methods in such a way that he/she is able to solve typical problems in these application areas. The student can report the results and conclusions.

Assessment criteria, excellent (5)

The student has a deep insight in the methods and importance of operations analysis. The student has familiarized himself/herself with the mathematical framework, e.g. sensitivity analysis and duality. The student is able to manage a demanding operations analysis project and he/she can produce a high-quality report on that project.