Introduction_and_LP_Models

Introduction_and_LP_Models - ManagementScience 1...

Info iconThis preview shows pages 1–5. Sign up to view the full content.

View Full Document Right Arrow Icon
  1 Management Science 
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
  2 Management Science     Management Science : A quantitative approach to decision making based on the scientific method of problem solving. Management science tools, techniques and concepts have dramatically changed the way business operates in finance, service operations, manufacturing, marketing and consulting. Management science models and tools have the power to enhance the competitiveness of almost any company or enterprise.
Background image of page 2
  3 Practical  Management Science Broad application of management science: Forecasting Inventory control Production scheduling Supply-chain management Capital budgeting Portfolio planning Transportation and distribution Project and workforce management
Background image of page 3

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Mathematical Models of Management Science Known data (uncontrollable inputs) Decision variables (controllable inputs) Maximize or minimize some objective function subject to constraints . Objectives:
Background image of page 4
Image of page 5
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 10/14/2009 for the course MGMT 360 taught by Professor Yanjunli during the Spring '09 term at Purdue University-West Lafayette.

Page1 / 10

Introduction_and_LP_Models - ManagementScience 1...

This preview shows document pages 1 - 5. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online