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OPER 5002

Management Science

About the Course

Course Description and Purpose

Management Science (OPER 5002) presents an overview of the quantitative models, methods, and tools that help decision-making in management. In particular, it employs mathematical modeling, a rational approach to decision-making. The most used decision models are introduced and applied to various practical problems, which manufacturing and service businesses are usually confronted.

The focus of this course is on the formulation, modeling, and solution of real world problems, and the interpretation of these results. Several practical problems in operations management, marketing, and finance are studied. Particular attention is paid to productions and operations management problems such as facility locations, production planning, distribution planning, etc. An important emphasis is put on the use of practical dedicated software, such as Solver from Microsoft Excel. Practical exercises and case studies are used to allow an in-depth understanding of the concepts.

The course presents linear programming models, their solutions, and the economic interpretation of the results. It also introduces network flow models, which form a different class of models where relations among variables can be represented using graphs. This part of the course shows modeling from a different point-of-view and presents a class of models that have played a tremendous and fundamental role in freight transportation, logistics, and supply chain management. Project management and activity planning with PERT/CPM, waiting line models, simulation, and decision theory are also studied.

Required Textbook

The required textbook for this course is the following:

Camm, J.D., Cochran, J.J., Fry, M.J., Ohlmann, J.W., Anderson, D.R., Sweeney, D.J., & Williams, T.A. (2023). An introduction to management science: Quantitative approaches to decision making (16th ed.). Boston, MA: Cengage Learning.

The content in this online course has been adapted from Anderson et al.'s 16th edition of An Introduction to Management Science: Quantitative Approaches to Decision Making (2023), and must be used in conjunction with the required textbook.

Structure

This course comprises 6 modules. You can expect to dedicate a considerable amount of time to your study of the modules, with much of that time being dedicated to participation in online discussions and related activities.

The course modules guide you through the textbook readings and provide the information you need for your online discussion work. They also outline assessment tools for measuring learning and achievement.

Some of the modules are broken down into two lessons covering specific topics and some cover three lessons. Take a careful look at the course schedule and note which modules/lessons require more reading.

Features of Each Modul

eOverview

The overview gives you the broad picture of the content of the lesson and the general scope of what you will study.

 Learning outcomes

A set of learning outcomes is listed near the beginning of each module. These objectives will guide your study and help you to focus on the most important topics and issues that are covered in the lesson. Read through them carefully before you begin your textbook and online reading. Refer to the outcomes from time to time as reminders of what is expected in the course. When you have completed the lesson, return to the learning outcomes to ensure that you have achieved them all. The outcomes can also be a useful tool when you are reviewing the material for your assignments and your exam.  Remember, however, that the learning outcomes are not all-inclusive; you are responsible for all the material in the course.

 Required reading

At the beginning of each lesson, the relevant chapter(s) from your textbook will be listed. As you work through the module, you will be prompted to read specific sections from the chapter(s). Sometimes the reading prompt will appear at the beginning of the section followed by the discussion which will expand on the content. Sometimes the reading prompt will appear at the end of a section after you have been introduced to a topic. The required reading is essential for your understanding of the topics under discussion. Be sure to read the introductory and summary sections of each chapter as well, whether or not you are directed to do so. You should also carefully read through the table of contents and preface section of your textbook. Previewing the material in the textbook in this way ensures that you understand how the textbook is laid out and how you can make the best use of its design features.

 Computer software

In your textbook and online modules, you will find references to computer software that is used to solve more complex problems. There are appendices at the end of the textbook chapters that will guide you on how to use the software. Your professor will provide additional guidance on how to use these programs if necessary.

 Topics

Throughout the course modules, you will find one or more topic sections which cover the key concepts of the lesson. The material in these sections expands and/or reinforces the textbook content. In most cases you will be directed to read the relevant textbook section before reading the discussion, but occasionally the order will be reversed.

At the end of the topic you may find a list of questions which encourage you to think about what you have read and relate it to your own experience. Jot down your answers to these questions and share some of your ideas and experiences on the discussion forum. If you are not sure how to answer these questions ask your classmates for their ideas.

 Web links

IIn some lessons, web links have been provided for supplementary videos which are publicly available. You may find it useful to view these for a different interpretation of the topics under discussion. If you are a visual or aural learner you may benefit from watching and listening to an explanation of key concepts. If you find a broken link, contact your professor. If you find other useful web resources related to the key concepts, consider sharing them with your classmates in the discussion forum.

Review questions

At the end of each module, you will find a section listing module review questions. In this section you are directed to complete specific problems from the textbook. In order to self-test your knowledge and understanding of the content material you are strongly advised to complete all these problems. This will prepare you for the group activities which you are required to complete using the discussion forum. Solutions for some even-numbered problems are provided in the back of the textbook. Resist the temptation to look at the answers until you have formulated your own answer! If the answers are not in the textbook, use the discussion forum to ask your professor or classmates for help with difficult question.

Assignments

For detailed information about the course assignments, check the Assignments section of the course.