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Course on Operations Research

  • Categories Mechanical
  • Duration 40h
  • Total Enrolled 0
  • Last Update March 15, 2020

About Course

Operations Research course deals with the application of advanced analytical methods of problem solving under uncertainty that helps to make better decisions which is useful in the management of the organisation.

Description

Operations research is about deriving optimal solutions to maximize sales or profits and/or to minimize costs, losses, or risks.Operations research is an analytical method of problem-solving and decision-makingunder uncertainty that is useful in the management of organizations. In operations research, problems are broken down into basic components and then solved in defined steps by mathematical analysis.Operations Research is a science which deals with problem, formulation, solutions and finally appropriate decision making with the goal of improving or optimizing performance.In a business, very few things are certain, and managers must often make decisions based on their instincts instead of being able to use reliable data.The basic tools of operations research are probability theory, Monte Carlo methods, stochastic processes, queuing models, transportation models, network models, game theory, linear and nonlinear programming, dynamic programming, Markov decision processes, input-output analysis, choice modelling, econometric modelling, and other mathematical techniques and algorithms. The ultimate goal is to create a mathematical model that simulates real-world processes and systems so that optimal solutions can be found.

What Will I Learn?

  • Provide scientific methods with a quantitative basis of decision making in an organisation.
  • Execute various tools and techniques in finding an optimal solution to problems involving limited resources.

Topics for this course

5 Lessons40h

Introduction

Introduction: Evolution of OR, Definitions of OR, Scope of OR, Applications of OR, Phases in OR study. Characteristics and limitations of OR, models used in OR, Linear Programming Problem (LPP), Generalized LPP- Formulation of problems as L.P.P. Solutions to LPP by graphical method (Two Variables).

Linear Programming Problems

Transportation Problem

Network analysis

Game Theory

About the instructors

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49 Courses

0 students

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52 Courses

4 students

10,000.00

Requirements

  • The prerequisites required are fundamental knowledgein material science, mechanics of materials, mechanical design, manufacturing process, numerical techniques, computer programming, industrial engineering and management.

Target Audience

  • Engineersworking in design and manufacturing sections in mechanical, automotive, aerospace, railways, defence, nuclear energy, thermal power, wind, medical equipment, etc, and related Industry can participate.