School and work have kept me too busy to post for a while! I have finished one year of the MBA program so will try to catch up on class overviews while I’m technically on break before January’s classes begin.
What is management science?
Management Science is a discipline that attempts to aid managerial decision making by applying a scientific approach to managerial problems that involve quantitative factors.
Various tools related to Management Science:
- Decision Theory
- Mathematical Programming
- Linear Programming
- Binary & Integer Programming
The course goals:
- Recognize production and operations management problems, select appropriate methods of analysis and develop criteria and techniques for optimal decision making.
- Develop and use models to understand the process for making rational
operations management decisions within a systems framework, under uncertainty and risk, and considering relationships with other functional areas of the total enterprise or supply chain.
- Use appropriate methods to monitor and control processes within an
- Develop appropriate mathematical models as tools for evaluating and solving business problems and understanding the impact of sensitivity analysis.
Book: An Introduction to Management Science: Quantitative Approaches to Decision Making
Optimizing Helicopter Transport on Oil Rigs
Optimizing the queue for waiting lines was a big topic, here are some of the articles from that lesson:
Theme Parks Aiming to Eliminate Waiting in Lines
Is Six Flags FlashPass Worth the Cost?
I started the online MBA program at Montclair State University in January 2017.