Courses

Operational Research

General

  • Code: 64
  • Semester:
  • Study Level: Undergraduate
  • Course type:
  • Teaching and exams language: Ελληνικά
  • The course is offered to Erasmus students
  • Teaching Methods (Hours/Week): Theory (4)
  • ECTS Units: 5
  • Course homepage: https://exams-sm.the.ihu.gr/enrol/index.php?id=15

Course Contents

• Introduction to Operational Research (the nature of OR – Mathematical models and algorithms)
• Linear Programming (mathematical model, problems formulation, the Simplex method, graphical solution, sensitivity analysis)
• Transportation and Transshipment Problems (mathematical model, initial feasible solution, optimal solution algorithm, special cases, solution of given problems and case studies)
• Stock Control (interpretation, costs analysis, main variables and terminology, main stock control systems, systems graphical representation, calculation of main variables)
• Production Systems Planning (assignment problems – task scheduling in one, two or three media – production line balancing)

Educational Goals

Main aim of this course is the students’ familiarization with the way of thinking and the logic of the scientific management by understanding, using and applying the models and the techniques of Operational Research (OR). With the completion of the course students are expected to:
• Understand the concept and the logic of OR models
• Acquire complete theoretical and practical knowledge of the models and algorithms of the more important OR techniques
• Practice in the analysis and tackling of real problems and case studies • Interpret and apply the results of problems’ solutions
• Solve problems and case studies with the use of specialized software (POM-QM)
• Understand and practice in sensitivity analysis of problems’ optimal solution
• To understand the structure and the characteristics of the main mathematical models of OR
• To acquire complete theoretical and practical knowledge of the models and algorithms of OR techniques and mathematical algorithms
• To select the appropriate model for the solution of a given problem
• To apply the appropriate model in both ways; with ‘paper and pencil’ and the use of specialized software
• To evaluate and interpret the results of problems’ solutions
• To compare the results of problems’ solutions with alternative data and to come to rational conclusions

General Skills

• Search, analysis and synthesis of data and information with the use of appropriate techniques and algorithms
• Decision making
• Promotion of free, creative and inductive thinking
• Monitoring results
• Use of specialized software for solving OR problems as well as interpreting the acquired results

Teaching Methods

• Face to face theoretical and practical lectures
• Problem solving by hand from the teacher
• Individual and group problem solving by the students
• Solving case studies
• Problem solving via the use of specialized software – Interpretation of results – Sensitivity analysis

Students Evaluation

Assessment Language: English / Greek
The final grade is formed by a written final examination.
The written final examination of the course may include:
Formulating and/or solving problems of application of the acquired knowledge, short answer questions etc
Especially for foreign students (e.g. studying through Erasmus programme) it is possible to be assessed by undertaking a project.

Recommended Bibliography

1. Dantzing, G.B. and Thapa, M., “Linear Programming 2, Theory and Implementation”, N.Y.: Springer – Verlag, 1997.
2. Hillier, F. and Lieberman, G., “Introduction to Operations Research”, 8th edition, N.Y.: Mc Graw – Hill, 2004.
3. Lockyer, K. G., “Production Control in Practice”, London: Pitman Pub, 1975.
4. Raturi, A. and Evans, J., “Principles of Operations Management”, 1st edition, South Western, 2005.
5. Taha, H. A., “Operations Research, an Introduction”, 9th edition. Prentice Hall, 2010.
6. Zipkin, P.H., “Foundations of Inventory Management”, N.Y.: Mc Graw-Hill/Irwin, 2000.