Operations Research (OR) is a discipline of applying advanced analytical methods to help make better decisions. Also known as management science or decision science, it involves the application of information technology in designing systems to operate in the most effective way or deciding how to allocate scarce human resources, money, equipment, or facilities.
This course will address the three different aspects of OR, which are:
1. Simulation: the ability to try out approaches and test ideas for improvement
2. Optimisation: Narrowing choices to the very best when there are virtually innumerable feasible options and comparing them is difficult
3. Probability and Statistics: measure risk, mine data to find valuable connections and insights, test conclusions, and make reliable forecasts.
Lectures:
1. Linear programming formulation
2. Linear programming solution – graphical method
3. Linear programming solution – algebraic method
4. Simplex algorithm
5. Big-M Method
6. Two Phase Method
7. Simplex algorithm – Initialisation and Iteration
8. Simplex algorithm – Termination
9. Primal – Dual Relationship
10. Dual Simplex Algorithm
11. Introduction to Sensitivity Analysis
12. Transportation problem
13. Assignment problems
14. Hungarian Algorithm