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Unformatted text preview: V. Management Science Models a. Type of MS Models i. Deterministic model (e.g.) linear programming ii. Stochastic model (probabilistic model) (e.g.) sales iii. Static model (e.g., given time period) iv. Dynamic Model (e.g., different time period) VI.Management Science Technologies a. Linear programming (LP)- optimization i. George B. Dantziz (1947) ii. William J. Bannel (1956) iii. Promotion problems b. Assignment (scheduling) problem- optimization c. Transportation and distribution problem (deterministic/static)- optimization d. Project Management and Control (stochastic/dynamic) i. PERT (program evaluation and review technique)/time ii. PERT( )/cost iii. PERT/CPM (Critical Path Method) e. Inventory Management i. Economic order quantity (EOQ) deterministic...
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- Spring '11