Operations Research

Paper Code: 
FSG 423
Credits: 
6
Contact Hours: 
90.00
Max. Marks: 
100.00
Objective: 

The course will enable students to -

  1. Understand the role of various quantitative approaches in business decision making.
  2. Understand the linear programming and its application.
  3. Understand the role and application of different theories of Operation Research in business decision making.                                                      Course Outcomes (Cos): 

    Course

    Learning outcome (at course level)

    Learning and teaching strategies

    Assessment Strategies

    Paper Code

    Paper Title

    FSG  423

    Operation Research

    (Theory)

    The students will be able to –

    CO81.  Comprehend decision-making situations in business and the role of different quantitative approaches, tools of decision science and limitations of operation research.

    CO82.  Gain knowledge about application of Linear Programming (LP) for optimum allocation of resources with different approaches relating to problem solving in business situations constrained by availability of resources or alternatives.

    CO83.  Apply the knowledge of game theory and theory of queuing in analyzing the real business problems through them.

    CO84.  Apply the knowledge of prudent and cost-effective decision making through transportation and assignment problems.

    CO85.  Acquire skills relating to the maximin, minimax, maximax and decision tree analysis.

    Approach in teaching:

    Interactive Lectures, Discussion, Tutorials, Reading assignments, Team teaching

     

    Learning activities for the students:

    Field activities, Presentation, Giving tasks

    Class test, Semester end examinations, Quiz, Solving Numerical problems in tutorials, Assignments, Class Presentation

 

18.00
Unit I: 
Quantitative Techniques:

Quantitative Techniques: An Introduction, Statistical and Operations Research techniques, Scope and application of Quantitative Techniques, Scientific approach in decision-making, Limitation of these techniques.

18.00
Unit II: 
Linear Programming:

Linear Programming: Mathematical formulation of problem. Graphical and Simplex Solutions of LPP. Primal and its Dual.

18.00
Unit III: 
Game Theory and Queuing Theory

Game Theory– Meaning, Two Person zero sum game , Mix strategies.
Queuing Theory – meaning , concepts and problems related with Queuing Theory

18.00
Unit IV: 
Transportation and Assignment

Transportation: Solving the problem. Testing the optimality MODI method.
Cases of unbalanced problems, Degeneracy, Maximization objective, Multiple
solutions and Prohibited Routes
Assignment: Solving the problem. Cases of unbalanced problems, multiple
optimum solutions, maximization objective and unacceptable assignments

18.00
Unit V: 
Decision Theory:

Decision Theory: Maximin, Minimax, and Maximax expected pay off andregret, Expected value of Perfect Information, Decision Tree Analysis.

Essential Readings: 
  1. Kapoor, V. K., Operational Research, Sultan Chand & Sons, New Delhi
  2. Vohra, N. D., Quantitative Techniques In Management, Tata McGraw Hill, New Delhi
References: 
  1. Taha, Hamady A. , Operational Research An Introduction, Prentice Hall of India, New Delhi
  2. Mathur, Khandelwal, Gupta, Gupta'Operational Research, Ajmera Book Company, Jaipur
  3. Nag, N. K., Quantitative Methods, Kalyani Publishers, Jaipur
  4. Agarwal, N.P., and Agarwal, Sonia, Quantitative Techniques For Management, Ramesh Book Depot, Jaipur
Academic Year: 
2020-2021
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