Description

This course introduces students to different approaches, support tools, and analytical methods for decision making in various business supply chain management situations. The objective is to develop the students’ ability to define business problems, construct quantitative models and effectively utilize decision making applications such as Excel Solver.

Program

MBA

Objectives

• Upon Course Completion Students should be able to: • Develop analytical skills in modeling and decision-making with emphasis on Business, Manufacturing and supply chain applications involving uncertainty and risk. • Introduce analytical quantitative models used in a spreadsheet environment. • Critically assess the models studied and become aware of recent developments in modeling and simulations. • Implement, verify, validate and simulate different models using spreadsheets tools. • Build Decision Support Systems (DSS) and apply mathematical and spreadsheet modeling techniques to business situations to aid decision-making. • Explore how decision support systems can help managers effectively deal with difficult and risky decisions. • Describe and visualize data, estimating unknown parameters and relationships between process inputs and outcomes. • Use models for business intelligence and decision support and evaluate various scenarios to optimize business decisions.