UMass Lowell D. Sutton Spring 2010 63.210 UNIVERSITY OF MASSACHUSETTS LOWELL COLLEGE OF MANAGEMENT Don Sutton Email: email@example.com PHONE: (603) 476-5942 OFFICE: FA207 (x4269) 63.210 (207) Operations Analysis Techniques Spring 2010 COURSE DESCRIPTION This course introduces students to quantitative methods for analyzing business problems. Analytic methods include decision analysis, linear programming, queuing, inventory analysis, statistical process control, and project management. Applications address issues in areas such as marketing, production, finance, and logistics. COURSE OBJECTIVE The primary objective of this course is to expose students to some selective quantitative techniques that can be used to analyze a variety of business problems in the area of accounting, finance, management, marketing and production. Students are expected to learn methodological skills for recognizing business problems, formulating appropriate models, analyzing the model for solutions, and for each situation, choosing the best course of action for implementation (critical thinking). In addition, students are expected to practice their communication skills through classroom discussion (effective communication). GENERAL INFORMATION A. Time: Wednesday 2:00PM – 4:45 PM (3 credit hours) B. Prerequisites: Statistics I (49.211) or Introduction to Statistics (92.183 or 92.283) C: Required Text: Render, Stair, Hanna, Quantitative Analysis for Management, Prentice-Hall, 10th edition, 2009. Includes CD D. Office Hours: Wednesdays: 1PM – 1:45 PM in the OIS Conference Room or by appointment. F. Evaluation methods: The final grade in the course will be determined on the basis of scores earned on exams, homework assignments, and class attendance/participation. 1st Mid-term 25% nd 2 Mid-term 35% Final Exam 25% Assignments 10% Class Attendance/Participation 5% EXAMS: The course will have three exams – two Mid-terms and a Final exam. Exams are mandatory and are required to be taken at the time established in the syllabus unless there is a school closing. Any deviation from this requires the advanced approval from the instructor. Exams will primarily consist of problems, however, short written responses and/or multiple choice/true false questions may also be on the exams. The exact number of each will not be provided beforehand. Only the chapters identified in the class schedule will be tested on the exams. Exams are closed 1 UMass Lowell D. Sutton Spring 2010 63.210 book, however, you will be allowed to bring a single sheet (8.5x11) with handwritten notes (i.e. no typed material, cut/pasted material, etc). The handwriting exercise can actually help the learning process. Violations of these conditions will cost you 10 points on the exam. Copies of notes done by somebody else is not allowed. Copies will be confiscated and you will have to take the exam without notes (not something you should want to do). HOMEWORK ASSIGNMENTS: Homework assignments consist of using the computer program (QM for Windows) to solve review problems. The program comes with the text book or is available in the computer lab. Homework assignments must be turned in on or before date listed. Provide a neatly handwritten or typed overview of the problems and the inputs you are entering into the computer program along with the printed output from the program. You may discuss the homework with other students, however, you must turn in your own assignment on or before the dated indicated in the course schedule. Evaluation will consist primarily of completeness and clarity. Emphasis is on effort and completion. The following grade scale will be used: 5: Full credit; all parts of the assignment have been completed and calculations/reasoning clearly indicated. 4: Most of the assignment completed; some parts missing/incomplete. 3: More than half of the work has been completed, but substantial parts missing or incomplete. 2: Most of the assignment missing or incomplete. 1: Vast majority of the assignment has not been completed. 0: Assignment not turned in by the class following the scheduled submittal. If you turn it in one week late, you will start at a 3 on the grade scale. ATTENDANCE/PARTICIPATION: Class attendance and participation is relatively subjective and depends on your quantity and quality of comments, observation and questions. Attendance will be checked. Students are responsible for the material and announcements covered in class whether there or not. Professional behavior is expected at all times in the classroom. In a business training environment, you don’t show up late, you stay for the entire training period, and you don’t disrupt the session with phone calls, texting, etc. TEACHING METHODS: Learning these diverse topics will require solving business oriented mathematical problems. Hence, the class sessions will be spent in discussing the reading assignments, clearing up difficulties, and problem solving. You will get the most out of this course by reading the assignment material and attempting to complete the review problems prior to class. ACADEMIC INTEGRITY: Your University and the College of Management expect high standards of ethical and moral conduct. You are expected to prepare and present your own original work. Plagiarism or any other sort of cheating will be individually diagnosed and swiftly dealt with. See your undergraduate catalog for detailed UML policies. (www.uml.edu/catalog/undergraduate/policies/academic_dishonesty.htm). SICK DAYS AND UNSCHEDULED CLOSINGS OF UML OR COM: If for any reason, the University is closed, written assignments due during the day of closure will become due at the next class date. 2 UMass Lowell D. Sutton Spring 2010 63.210 COURSE OUTLINE The following topics will be covered in the course 1 DATE Jan 27th TOPIC Introduction (Overview of course) ASSIGNED READINGS Ch/Section REVIEW PROBLEMS/ ASSIGNMENTS 1 (all) Probability & Statistics Review 2 (2-1 thru 2-5, 2-8,2-9) 13 (all) Chap 13: 13,15,17,24 2 Feb 3rd Project Management PERT/CPM Crash Analysis (time/cost) 3 Feb 10th Project Management Probabilistic Analysis 13 (all) Chap 13: 19,28 4 Feb 17th Network Models Minimal Spanning Tree Maximal-flow Shortest-route 12 (all) Chap 12: 7,12,19,21,22 Homework Assignment: Turn in any three problems from session 2 or 3. 5 Feb 24th 1st MID-TERM EXAM (covers sessions 1-4) Overview of second third of the course 6 March 3rd Linear Programming Problem Formulation Graphical Solution 7 (all) Chap 7: 14,18,20,22 7 March 10th Linear Programming Problems 8 (8-1 thru 8-3, 8-5, 8-8) Chap 8: 7,11,18,24 March 17th SPRING BREAK ENJOY YOURSELF 3 UMass Lowell D. Sutton 8 Spring 2010 63.210 DATE TOPIC Mar 24th Transportation Model Initial Solution Improvement methods ASSIGNED READINGS CH/Section 10 (all) REVIEW PROBLEMS/ ASSIGNMENTS 17 (all) Chap 17: 7,13,15,16 Chap 10: 11,17,21,26,32,35,36 Assignment Problem 9 Mar 31st Statistical Process Control 10 Apr 7th Statistical Process Control (Cont) & Review 11 Apr 14th 2nd MID TERM EXAM (covers sessions 6-10) Homework Assignment: Turn in any three problems from sessions 6 thru 9. Overview of final third of course 12 Apr 21st Decision Analysis Six Steps Types of decision problems Risk Uncertainty Value of Information Apr 28th 13 May 5th NO CLASS Queuing Theory Queuing Systems (QS) QS characteristics Single-channel QS Multiple-channel QS 14 May 12th Inventory Control Models EOQ Production quantity Quantity discount TBD 3 (3-1 thru 3-5) Chap 3: 16,17,18,19,24,27 FINAL EXAM (covers sessions 12-14) 4 14 (14-1 thru 14-5) Chap 14: 11,12,16,19, 20,24,25 6 (6-1 thru 6-7, 6-11, 6-12)) Chap 6: 221,25,26,27,32,43 Homework Assignment: Turn in any three problems from sessions 12 or 13.