Decision Making for Industrial Management (B-KUL-H0T99A)
Aims
Knowledge:
Basic knowledge of linear, integral and combinatorial optimization, stochastic optimization.
Skills:
The student should be able to critically and creatively make use of the techniques of operational research, particularly linear and integer programming, and stochastic decision-making. The student should be able to model problems, select and execute algorithms in a well-founded way, and interpret the obtained results critically.
Attitudes:
To analyze, model and solve a problem in an efficient and structured manner.
Previous knowledge
Exact-scientific background, basic knowledge of algebra, analysis, probability, analytical statistics; interest in business administration.
Order of Enrolment
This course unit is a prerequisite for taking the following course units:
H08J0A : Supply Chain Engineering
H0A01A : Operational Management (No longer offered this academic year)
Identical courses
This course is identical to the following courses:
H01R7A : Besliskunde voor bedrijfsbeheer (No longer offered this academic year)
Is included in these courses of study
- Master in de ingenieurswetenschappen: mobiliteit en supply chain (Leuven) 120 ects.
- Master of Mobility and Supply Chain Engineering (Programme for Engineering Technology Students) (Leuven) 120 ects.
- Master of Mobility and Supply Chain Engineering (Leuven) 120 ects.
- Bachelor in de ingenieurswetenschappen (programma voor studenten gestart vóór 2024-2025) (Leuven) (Nevenrichting bedrijfsbeheer) 180 ects.
- Bachelor in de ingenieurswetenschappen (programma voor studenten gestart in 2024-2025 of later) (Leuven) (Keuzepakket E) 180 ects.
- Bachelor in de ingenieurswetenschappen (programma voor studenten gestart in 2024-2025 of later) (Leuven) (Keuzepakket F) 180 ects.
Activities
2.7 ects. Deterministic Decision Models: Lecture (B-KUL-H0E56a)
Content
This course discusses the basic deterministic techniques of operational research. In particular attention is spent on linear and integral programming. Particularly the choice and construction of models are discussed and the role of the computer and modern optimization software are illustrated on the basis of numerous examples (small exercises and practical studies), both during the lectures and during the practical sessions.
Following topics are discussed: structure of linear models, the simplex method, sensitivity analysis, transport and allocation models, network models, integral and combinatorial programming. Apart from optimal procedures (simple and multiple aims) much attention goes to heuristic solution procedures. The main means of support is the LINDO/LINGO package.
Course material
Study cost: 76-100 euros (The information about the study costs as stated here gives an indication and only represents the costs for purchasing new materials. There might be some electronic or second-hand copies available as well. You can use LIMO to check whether the textbook is available in the library. Any potential printing costs and optional course material are not included in this price.)
Is also included in other courses
0.3 ects. Deterministic Decision Models: Exercises (B-KUL-H0E57a)
Content
Exercise sessions are based on the different chapters discussed during the lectures of deterministic decision models.
Is also included in other courses
2.7 ects. Stochastic Decision Models: Lecture (B-KUL-H0E58a)
Content
This course discusses the basic stochastic techniques of operational research: stochastic and Markovian models, dynamic programming and queueing theory . Particularly the choice and construction of models are discussed and are illustrated on the basis of numerous examples (small exercises and practical studies), both during the lectures and during the practical sessions.
The part of stochastic programming comprises: Markov chains, dynamic programming, queueing theory, simulation techniques and models.
The modelling examples are mostly related to company management: applications in logistics, production planning, physical distribution, location,..., which mostly proves that THE solution (method) does not exist, but that there are various possibilities to tackle a problem and implement the solution.
Course material
Study cost: 1-10 euros (The information about the study costs as stated here gives an indication and only represents the costs for purchasing new materials. There might be some electronic or second-hand copies available as well. You can use LIMO to check whether the textbook is available in the library. Any potential printing costs and optional course material are not included in this price.)
0.3 ects. Stochastic Decision Models: Exercises (B-KUL-H0E59a)
Content
Exercise sessions are based on the different chapters discussed during the lectures of stochastic decision models.
Evaluation
Evaluation: Decision Making for Industrial Management (B-KUL-H2T99a)
Explanation
The exam is open book. Students are allowed to use the course material (book, exercises, lecture notes,...) during the exam.
The exam consists of three exercises.