Entrepreneurship Management Essay (Essay Sample)

2857500-35242500KABARAK UNIVERSITY
SCHOOL OF BUSINESS
P.O Private Bag – 20157, KABARAK, KENYA
Course code Course: BMGT 410
Name : OPERATIONS RESEARCH
3 Credit Hour 3.0
COURSE OUTLINE
Lecturer: B Chelangat
Cell phone: 0723639041
Email: Beatrice.chelangat@kabarak.ac.ke
Course description
Nature and scope of operations research. Linear programming models; Concept, modeling, Solution methods and application. Advanced Linear Programming Models. Distribution Models; Transportation and Assignment Problems. Networks; PERT and CPM methods, Time - Cost-analysis, resource allocation techniques. Inventory control, Simulation models. Queuing models; operating characteristics and applications, replacement models
Purpose of the course
The course aims to introduce students to use quantitative methods and techniques for effective decisions making; model formulation and applications that are used in solving business management problems.
Expected Learning outcomes
* Explain the characteristics of different types of decision-making environments and the appropriate decision-making approaches and tools to be used in each type.
* Critically analyze and interpret results and present this in both oral and written form.
* translate a real-world problem, given in words, into a mathematical formulation
* Employ appropriate quantitative/ mathematical tools to solve problems.
Learning approaches
E.g Lectures, discussions in class and groups, short presentations, individual exercises and structured activities.
Weeks

Dates

Detailed course content

Week 1


HISTORY AND NATURE OF OPERATIONS RESEARCH: Definition of OR, earlier developments and history of OR, and typical applications of OR.

Week 2


LINEAR PROGRAMMING. Definition. Basic parts of Linear Programming problems. Requirements, assumptions, advantages, limitations and applications LP. Solution to LP problems by simplex method.

Week 3


LINEAR PROGRAMMING.:
* Sensitivity analysis
* Duality

Week 4


ASSIGNMENT MODELS: Definition. Assignment models, application of assignment models to business management problems.

Week 5


CAT 1

Week 6


TRANSPORTATION MODELS: Nature and introduction to transportation models, models for feasible solution, transportation models for optimum solution.

Week 7


SIMULATION MODEL: Introduction to simulation, Monte Carlo simulation method, Application of simulation models to management problems

Week 8


INVENTORY CONTROL: introduction to inventory control models, Periodic models, quantity models, EOQ, Discounts, Stock outs, Buffer stock

Week 9


CAT 2

Week 10


NETWORK ANALYSIS: Introduction, Critical Path Method (CPM). PERT analysis. Time and cost analysis. Project Crashing and Resource Leveling

Week 11


QUEUING MODELS: Introduction to queuing models, basic Queuing characteristics, Single Server and Multi Server Models, application of queuing theory to business management.

Week 12


REPLACEMENT MODELS: Nature and introduction to replacement models, different types of replacement models, application to management problems.

Week 13


Revision

Weeks 14 & 15


Exams

Course assessment
Continuous assessment te