decision - Management Science Introduction Management...

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Management Science Introduction
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Management Science/Operations Research Synonyms: Operations Research, Management Science, Quantitative Analysis, Decision Science History: Early 1900s:Frederic Taylor provided the foundation for the use of quantitative methods in management. About 1947: Modern development of OR/MS during world war II Summer 1947: George Dantzig developed the simplex method to solve linear programming problems.
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First conference on linear programming First book of operations research Management Science: is a scientific approach for solving management problems.
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:Applications Organization Nature of Application Annual Saving United Airlines Schedule shift work at reservation offices and airports to meet customer needs with minimum cost $6 millions Caltrans Used operations research to complete the repair process of the 405 freeway in shorter time after the 1994 earthquake
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San Francisco Police Department A system was designed to schedule police officers in such a way that minimize the cost of police operation, and maintain a high level of citizen safety. 11 millions + $3 millions increase in the traffic citation revenue IBM Develop a Spare parts inventory system to improve service support $750 millions Citgo Petroleum Corp. Optimize refinery operations and the supply distribution $70 millions
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HP Redesign the sizes and locations of buffers in a printer production line to meet production goals $280 millions Research work Determining the optimal fiber orientations that maximizes the strength of a composite material Taco Bell Schedule employees to provide desired customer service at minimum cost $13 millions
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:Current Professional Organizations The Institute for Operations Research and Management Science (Informs) The Decision Science Institute (DSI) Colleges offering degrees in Operations Research/Management Science Jobs available for the graduates of OR/MS: Operations Research analyst is one of the fastest growing occupations for careers requiring B.Sc. degrees. The Bureau of Labor Statistics predicts growth from 57,000 jobs in 1990 to 100,000 in 2005, i.e. 73% increase.
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What can management Science What can management Science Techniques do? Techniques do? 1. System Design capacity location arrangement of departments product and service planning acquisition and placement of equipment
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Decision Making Decision Making 2. System operation personnel Inventory Scheduling Project management Quality assurance
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Models Models A model is an abstraction of reality. Iconic Analog Mathematical What are the pros and cons of models? Tradeoffs
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Types of Models Iconic Models: Examples - scale model of airplane, toy truck etc. Analog Models : models do not have the same physical appearance of the object.
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