Management Science for Decision Support
| Code | School | Level | Credits | Semesters |
| BUSI4489 | Business | 4 | 20 | Autumn UK |
- Code
- BUSI4489
- School
- Business
- Level
- 4
- Credits
- 20
- Semesters
- Autumn UK
Summary
The emphasis in this module is on formulating (modelling) and solving models with spreadsheets. The topics covered include: modelling principles, optimisation and linear programming, goal programming network models, introduction to integer programming, key concepts of probability and uncertainty, decision theory, queuing systems and simulation.
Target Students
Available for MSc Industrial Engineering and Operations Management OR MSc Logistics Supply Chain Management OR MSc Supply Chain and Operations Management OR MSc Information Systems and Operations Management OR MSc Business Analytics students AND MSc Exchange students.
Classes
- One 2-hour lecture each week for 11 weeks
- One 2-hour computing each week for 5 weeks
This module is taught through a combination of computing sessions and lecture engagements; pre-recorded material (11 hours).
Assessment
- 25% Coursework: 1,500 words. Reassessment details: 100% in-person exam, duration 2 hours.
- 75% Exam (2-hour): Written in-person exam. Reassessment details: 100% in-person exam, duration 2 hours.
Assessed by end of autumn semester
Educational Aims
The module aims to provide an understanding of the methods and techniques of Management Science with applications in business and industry, including Operations Management and related areas.Students will learn how to apply the more common optimisation techniques for a range of problems.Simulation is another important tool for aiding the design and management of operations in manufacturing and service industries. The module introduces the principles, roles and practice of simulation. The mechanics of simulation, the conduct of a simulation study, and the software available will all be covered.Learning Outcomes
Knowledge and understanding: This module develops a knowledge and understanding of:
- The management of resources
- The management of operations
- The management of logistics
- Tools and techniques for transforming (big) data into useful information for business analysis and decision support
- Other: Management science models and solution techniques
Intellectual Skills: This module develops:
- Being able to think critically and be creative: manage the creative processes in self and others; organise thoughts, analyse, synthesise and critically appraise. This includes the capability to identify assumptions, evaluate statements in terms of evidence, detect false logic or reasoning, identify implicit values, define terms adequately and generalise appropriately
- Being able to solve complex problems and make decisions: establish criteria, using appropriate decision-making techniques including identifying, formulating and solving business problems; and the ability to create, identify and evaluate options; the ability to implement and review decisions
- Using information and knowledge effectively in order to abstract meaning from information and to share knowledge, including the use of quantitative skills
Professional Practical Skills: This module develops:
- The ability to conduct research and enquiry into business and management issues either individually or as part of a team through research design, the collection and analysis of quantitative data, synthesis and reporting
Transferable (key) Skills: This module develops:
- Effective communication: networking, listening, oral and written communication of complex ideas and arguments, using a range of media, including the preparation of business reports
- Other: The ability to apply management science techniques