Please enable JavaScript.
Coggle requires JavaScript to display documents.
Quantitative decision making, MODELING, Introductions to mangement…
Quantitative decision making
Break even quantify
use of breakeven analysis
Pricing decisions
Business planning
Minimum sales target
logistics and supply chain control
Risk and profitabilty
Key componets
Volume
cost
Fixed cost
Variable cost
Selling price
Total cost
TC = Total fixed cost + total variable cost
Economic order quantity
optimal order quantity to minimize ordering cost
Key Assumptions of EOQ Model
Demand is constant Lead time is fixed No stock out allowed , Ordering and holding host
EOQ= 2DS/H
Order
Too frequent high ordering cost
Too much at once holding cost high
EOQ is important why ?
Reduced total inventory cost
Improve efficiency in logistics
Planning procument
Sensatvity analysis
*Economic production
Formula
2DS/H(1-d/p)
Demand
setup cost per unit per year
Holding cost per unit per year
Productions rate units per year
Demand rate units per year
Importance
Key assumptions
productions greater than demand rate
Inventory increase gradually drying productions
Inventory decrease gradually after productions stops
MODELING
Benefits model
Better decsiosns
Complexity handle
simplify problem and overcome
decisions support
Provide insighrt
Based on time
statics model
Dynamic model
based on solutions and quantfictions
Hirsutism model
Analytical model
Symbolic model
analogue model
Symbolic model
Verbal model
Descriptive model
Mathematical model
Introductions to mangement science
Overview and evolutions of quantitative decisons
Mangement science approach in problem solving
Observations
Problem definations
Model construtions
variable Chart representations
decision variable
Functional relationship
Objective functions
Data
Solutions
Implementations
Sensitivity analysis
Break even volume
V= cf/p-cv
Linear mathematical programming
Review of probability theory bayesian in statics in particular ( independent review)
Mangement science techniques
Linear mathematical programming
Probablistic techniques
Network techiniue
Multi criteria decisions making Chapter 3
Goal programming
devations
positive D +
Negative devations D-
Neutral 0
Linear programing vs Goal programing
Constrains
Steps of Goal programming
Goal
decisions Variable
Analytic Hierarchy model
Scoring model