Introduction to Management Science

Description

Introduction to Management Science gives students a strong foundation in how to make decisions and solve complex problems using both quantitative methods and software tools. In addition to extensive examples, problem sets, and cases, the 13th Edition incorporates Excel 2016 and other software resources, developing students' ability to leverage the technology they will use throughout their careers. By practicing these modelling techniques, students gain a useful framework for problem-solving that they can then apply in the workplace. Cover Title Page Copyright Page Brief Contents Contents Preface 1 Management Science The Management Science Approach to Problem Solving Time Out: for Pioneers in Management Science Management Science Application: Room Pricing with Management Science and Analytics at Marriott Management Science and Business Analytics Model Building: Break‐Even Analysis Computer Solution Management Science Modeling Techniques Management Science Application: Management Science and Analytics Business Usage of Management Science Techniques Management Science Application: Management Science in Health Care Management Science Models in Decision Support Systems Summary Problems Case Problem 2 Linear Programming: Model Formulation and Graphical Solution Model Formulation A Maximization Model Example Time Out: for George B. Dantzig Management Science Application: Allocating Seat Capacity on Indian Railways Using Linear Programming Graphical Solutions of Linear Programming Models Management Science Application: Renewable Energy Investment Decisions at GE Energy A Minimization Model Example Management Science Application: Determining Optimal Fertilizer Mixes at Soquimich (South America) Irregular Types of Linear Programming Problems Characteristics of Linear Programming Problems Summary Example Problem Solutions Problems Case Problem 3 Linear Programming: Computer Solution and Sensitivity Analysis Computer Solution Management Science Application: Scheduling Air Ambulance Service in Ontario (Canada) Management Science Application: Improving Profitability at Norske Skog with Linear Programming Sensitivity Analysis Summary Example Problem Solutions Problems Case Problem 4 Linear Programming: Modeling Examples A Product Mix Example Time Out: for George B. Dantzig A Diet Example An Investment Example A Marketing Example Management Science Application: Scheduling Radio Ads with Analytics and Linear Programming A Transportation Example A Blend Example A Multiperiod Scheduling Example Management Science Application: Linear Programming Blending Applications in the Petroleum Industry Management Science Application: Employee Scheduling with Management Science A Data Envelopment Analysis Example Management Science Application: Evaluating American Red Cross Chapters Using DEA Summary Example Problem Solutions Problems Case Problem 5 Integer Programming Integer Programming Models Management Science Application: Selecting Volunteer Teams at Eli Lilly to Serve in Impoverished Communities Integer Programming Graphical Solution Computer Solution of Integer Programming Problems with Excel and QM for Windows Time Out: for Ralph E. Gomory Management Science Application: Scheduling Appeals Court Sessions in Virginia with Integer Programming Management Science Application: Forming Business Case Student Teams at Indiana University 0–1 Integer Programming Modeling Examples Management Science Application: A Set Covering Model for Determining Fire Station Locations in Istanbul Summary Example Problem Solution Problems Case Problem 6 Transportation, Transshipment, and Assignment Problems The Transportation Model Time Out: for Frank L. Hitchcock and Tjalling C. Koopmans Management Science Application: Reducing Transportation Costs in the California Cut Flower Industry Computer Solution of a Transportation Problem Management Science Application: Analyzing Container Traffic Potential at the Port of Davisville (RI) The Assignment Model Computer Solution of an Assignment Problem Management Science Application: Supplying Empty Freight Cars at Union Pacific Railroad Management Science Application: Assigning Umpire Crews at Professional Tennis Tournaments Summary Example Problem Solution Problems Case Problem 7 Network Flow Models Network Components The Shortest Route Problem The Minimal Spanning Tree Problem Management Science Application: Determining Optimal Milk Collection Routes in Italy The Maximal Flow Problem Time Out: for E. W. Dijkstra, L. R. Ford, Jr., and D. R. Fulkerson Management Science Application: Distributing Railway Cars to Customers at CSX Summary Example Problem Solution Problems Case Problem 8 Project Management The Elements of Project Management Management Science Application: The Panama Canal Expansion Project Time Out: for Henry Gantt Mangement Science Application: Transportation Construction Projects CPM/PERT Time Out: for Morgan R. Walker, James E. Kelley, Jr., and D. G. Malcolm Probabilistic Activity Times Management Science Application: Salvaging the Costa Concordia Cruise Ship Microsoft Project Project Crashing and Time–Cost Trade‐Off Management Science Application: Reconstructing the Pentagon after 9/11 Formulating the CPM/PERT Network as a Linear Programming Model Summary Example Problem Solution Problems Case Problem 9 Multicriteria Decision Making Goal Programming Graphical Interpretation of Goal Programming Computer Solution of Goal Programming Problems with QM for Windows and Excel Management Science Application: Workforce Planning for the U.S. Army Medical Department with Goal Programming Time Out: for Abraham Charnes and William W. Cooper The Analytical Hierarchy Process Management Science Application: Selecting Sustainable Transportation Routes Across the Pyrenees Using AHP Management Science Application: Ranking Twentieth‐Century Army Generals Using AHP Scoring Models Management Science Application: A Scoring Model for Determining U.S. Army Installation Regions Summary Example Problem Solutions Problems Case Problem 10 Nonlinear Programming Nonlinear Profit Analysis Constrained Optimization Solution of Nonlinear Programming Problems with Excel A Nonlinear Programming Model with Multiple Constraints Management Science Application: Making Solar Power Decisions at Lockheed Martin with Nonlinear Programming Nonlinear Model Examples Summary Example Problem Solution Problems Case Problem 11 Probability and Statistics Types of Probability Fundamentals of Probability Management Science Application: Treasure Hunting with Probability and Statistics Statistical Independence and Dependence Expected Value Management Science Application: A Probability Model for Analyzing Coast Guard Patrol Effectiveness The Normal Distribution Summary Example Problem Solution Problems Case Problem 12 Decision Analysis Components of Decision Making Decision Making Without Probabilities Management Science Application: Planning for Terrorist Attacks and Epidemics in Los Angeles County with Decision Analysis Decision Making with Probabilities Decision Analysis With Additional Information Utility Summary Example Problem Solutions Problems Case Problem 13 Queuing Analysis Elements of Waiting Line Analysis The Single‐Server Waiting Line System Time Out: for Agner Krarup Erlang Management Science Application: Using Queuing Analysis to Design Health Centers in Abu Dhabi Undefined and Constant Service Times Finite Queue Length Management Science Application: Providing Telephone Order Service in the Retail Catalog Business Finite Calling Population The Multiple‐Server Waiting Line Management Science Application: Making Sure 911 Calls Get Through at AT&T Additional Types of Queuing Systems Summary Example Problem Solutions Problems Case Problem 14 Simulation The Monte Carlo Process Time Out: for John Von Neumann Computer Simulation with Excel Spreadsheets Simulation of a Queuing System Management Science Application: Planning for Catastrophic Disease Outbreaks Using Simulation Continuous Probability Distributions Statistical Analysis of Simulation Results Management Science Application: Predicting Somalian Pirate Attacks Using Simulation Crystal Ball Verification of the Simulation Model Areas of Simulation Application Summary Example Problem Solution Problems Case Problem 15 Forecasting Forecasting Components Management Science Application: Forecasting Advertising Demand at NBC Time Series Methods Management Science Application: Forecasting Empty Shipping Containers at CSAV (Chile) Management Science Application Forecasting Trends for Denim Jeans Forecast Accuracy Time Series Forecasting Using Excel Management Science Application: Demand Forecasting at Zara Regression Methods Management Science Application: An Airline Passenger Forecasting Model Data Mining Summary Example Problem Solutions Problems Case Problem 16 Inventory Management Elements of Inventory Management Management Science Application: Inventory Optimization at Procter & Gamble Inventory Control Systems Time Out: for Ford Harris Economic Order Quantity Models The Basic EOQ Model The EOQ Model with Noninstantaneous Receipt The EOQ Model with Shortages Management Science Application: Inventory Management at Zara EOQ Analysis with QM for Windows EOQ Analysis with Excel and Excel QM Quantity Discounts Management Science Application: Quantity Discount Orders at Mars Reorder Point Determining Safety Stock by Using Service Levels Order Quantity for a Periodic Inventory System Summary Example Problem Solution Problems Case Problem Appendix A Normal and Chi‐Square Tables Appendix B Setting Up and Editing a Spreadsheet Appendix C The Poisson and Exponential Distributions Solutions to Selected Odd‐Numbered Problems Glossary Index