Term: Spring 2019 - E-term III (01/14/2019 - 03/08/2019)
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This course focuses on the development and use of optimization and Monte-Carlo simulation models for making quantitative business decisions. With respect to optimization, the course will cover linear and mixed-integer programming, network flow optimization, and nonlinear optimization. Additional topics such as goal programming and decision trees may also be discussed.
Application areas include Marketing (e.g., advertising, pricing and revenue optimization), Finance (e.g., capital budgeting and portfolio optimization), and Operations management (e.g., production and inventory planning, project or personnel scheduling, shipping and distribution, routing, ride matching, location selection, etc.)
The course delivery will be a mix of lectures, hands-on problem solving, and case discussions. Most of the model development and analysis will be done using advanced tools and add-ins within a spreadsheet environment, but additional software may be introduced as needed.