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MBAA 607- Operations Analysis & Decision Support Systems

MBAA 607- Operations Analysis & Decision Support Systems. Spring 2008 Tuesday 4:25-7:05 Dr. Linda Leon. Productivity = Output/Input. where i nputs include labor capital materials time information energy And output measures output produced , not necessarily sold.

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MBAA 607- Operations Analysis & Decision Support Systems

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  1. MBAA 607- Operations Analysis & Decision Support Systems Spring 2008 Tuesday 4:25-7:05 Dr. Linda Leon

  2. Productivity = Output/Input where inputs include • labor • capital • materials • time • information • energy And output measures output produced, not necessarily sold

  3. U. S Productivity Increases • 1800-1973 productivity increased at average rate of 2.5% per year • 1970s to mid-1980s productivity increased at only 1% to 1.5% per year due to quality problems • Mid-1980s to 1995, the manufacturing sector increased its productivity rate by 2.5+% per year while the service sector lagged at 1-1.5% per year • 1995 to 2005 productivity rate increased by 5.6% per year as the result of decreasing labor input

  4. Variables that Create Productivity Increases • Labor • Capital • Management

  5. Management Science • A quantitative approach to decision making based on the scientific method of problem solving. Synonymous with operations research. • Early roots in World War II; now flourishing in business and industry with the aid of computers.

  6. Course Objectives • To learn how to model operations management and decision-making problems using quantitative management science techniques • To present various operations management and decision-making problems encountered in today’s business world

  7. Quantitative Techniques • Linear Programming • Simulation • Forecasting • Decision Trees • Project Management: PERT/ Critical Path Method (CPM)

  8. Examples of Typical Operation Management Problems • Resource Allocation • Scheduling • Demand Forecasting • Revenue Management • Planning Models • Supply Chain Management • Waiting Line Analysis • Inventory Management • Transportation & Location Analysis

  9. Operations Analysis & DSS Tools Assessing & Managing Operational Risk Increasing Expected Productivity Forecasting & Planning Models Simulation Models Decision Trees for Evaluating Alternatives Project Management Math Programming

  10. Course Objectives - Continued • To develop analytical & computer modeling skills necessary to implement and analyze decision problems • To learn how to integrate information provided by the use of quantitative techniques and computer models into the decision-making process and be aware of the limitations of the quantitative technique used

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