Quantitative Methods for Decision Making Ι

General

• Code: 401
• Semester: 4th
• Study Level: Undergraduate
• Course type: Special Background
• Teaching and exams language: Greek
• Teaching Methods (Hours/Week): Lectures and Laboratories (5)
• ECTS Units: 5
• Course homepage: https://elearning.cm.ihu.gr/course/view.php?id=126
• Instructors: Dimitriadis Sotirios, Vakalos Alexandros
• Exams Schedule:
  • 18/06/2024, 16:00 - 18:00: Δημητριάδης

Course Contents

• Introduction.
• Linear Programming.
• The problem of transportation.
• The Assignment Problem.
• Integer Linear Programming.

Practice Exercises:

• Introduction to linear programming, formulating a mathematical model, formulating and solving a linear programming problem on a spreadsheet.
• Formulating and solving the problem of transfer to a spreadsheet.
• Formulating and solving the assignment problem in a spreadsheet.

Educational Goals

The aim of the course is to present the most basic quantitative methods used in decision-making and problem solving in management practice. The core of these methods is the Simplex method, for solving Linear Programming problems. Also presented are solution techniques that address special classes of linear problems, such as the transportation problem and the assignment problem. The purpose of the additional laboratory courses and practical exercises is to present the solution of Linear Programming problems with spreadsheets, to interpret the results of solving these problems, to analyze the sensitivity of the results in relation to initial hypotheses and assumptions and to demonstrate the use of spreadsheets in decision making in management practice.

Upon completion of the course, students will be able to:

• Understand the main categories of models used in business decision-making, the capabilities and limitations they offer and the categories of decisions they face.
• Construct linear mathematical models that describe specific management practice problems. Identify special cases of these problems and construct linear models that have the structure of transportation or assignment problems.
• Understand and effectively apply the appropriate solving technique in each case: the Simplex method, the transportation method and the Hungarian method for the assignment problem.
• Interpret the solution results, recognize their sensitivity in relation to the initial assumptions and use them to make effective management decisions in practice.

General Skills

to be filled

Teaching Methods

• Face to face.

Use of ICT means

• Online guidance.
• Slides Projection in the classroom.
• Use of E-mail and onlne communication systems.
• Use of e-learning system (moodle).

Teaching Organization

Students Evaluation

to be filled

Recommended Bibliography

ΔΙΔΑΚΤΙΚΑ ΣΥΓΓΡΑΜΜΑΤΑ

1. Π. Υψηλάντης, ‘Επιχειρησιακή Έρευνα : Εφαρμογές στη σημερινή επιχείρηση, εκδόσεις ΠΡΟΠΟΜΠΟΣ, Έκδοση: Γ’ 2010/2007.
2. Γ. Οικονόμου, Α. Γεωργίου, ‘Επιχειρησιακή Έρευνα για τη Λήψη Διοικητικών Αποφάσεων’, εκδόσεις Μπένου, Έκδοση: Α/2011.

ΠΡΟΣΘΕΤΗ ΠΡΟΤΕΙΝΟΜΕΝΗ ΒΙΟΒΛΙΟΓΡΑΦΙΑ

1. Hillier F.S. and G.J. Lieberman, ‘Introduction to Operations Research’, 6th edition, International editions, McGraw-Hill, 1995.
2. Π. Βασιλείου, Ν. Τσάντας, ‘Εισαγωγή στην Επιχειρησιακή Έρευνα’, εκδόσεις ΖΗΤΗ, 2000.
3. Σ. Γ. Δημητριάδης, ‘Ποσοτικές Μέθοδοι για τη Λήψη Διοικητικών Αποφάσεων’, σημειώσεις από τις παραδόσεις, Σέρρες 2002.