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MNS407 Management Science

Lead Faculty: Dr. Reza Fadaei-Tehrani

Course Description

A survey of the fundamentals of management science. Emphasizes the concepts and mathematical techniques most useful in business and finance.

Learning Outcomes

  • Explain the management science approach to identification, analysis, decision, and implementation of problem solving.
  • Identify, categorize and discuss management problems that can be analyzed by linear programming.
  • Explain the importance of forecasting in organizations.
  • Construct models for a variety of PERT/CPM.
  • Describe the EOQ model and its variations or expansions.
  • Illustrate the decision tree method of analysis for decision making under risk and under certainty and expected value.
  • Demonstrate the transportation method to solve problems manually and with the northwest corner method
  • Solve case problems using computer software.

Prerequisite