Operations Research

General

• Code: 306
• Semester: 3rd
• Study Level: Undergraduate
• Course type: Specialization
• Teaching and exams language: Greek
• Teaching Methods (Hours/Week): Lectures and Practice Works (3)
• ECTS Units: 5
• Course homepage: https://elearning.cm.ihu.gr/course/view.php?id=38
• Instructors: Polychronidou Persefoni

Course Contents

1. Mathematical models in business decision making.
2. Linear programming and graphical solution.
3. Linear programming and Simplex method.
4. Linear programming in practice.
5. Use of computer in solving linear programming problems.
6. Problems of transportation and assignments.
7. Dynamic programming
8. Decision theory
9. Game theory
10. Queues.
11. Case studies.
12. Inventory management models.
13. Simulation.

Educational Goals

The course’s objective is  to educate students in making decisions with a scientific foundation, with the aim of making the best possible use of existing resources. The aim is to acquaint students with the mathematical modeling of various practical problems that appear in many fields. The interest is focused on understanding and recognizing the difficulty of solving them and on establishing appropriate algorithmic techniques for solving them.

After completing the course the student will be able to:

• Form – model decision and constraint problems in economic matters.
• Graphically solve and approximate the optimal solution.
• Apply known methods (such as the simplex method) and analyze the economic interpretation of the method.
• Solve transport and assignment problems.
• Make decisions in conditions of uncertainty or risk.
• Solve games.
• Model and solve queues.
• Model and manage inventories.

General Skills

• Working independently.
• Team work.
• Decision making.
• Production of free, creative and inductive thinking.

Teaching Methods

• In the classroom, face to face.

Use of ICT means

• Basic software (windows, word, power point, the web, etc.).
• Support of learning process through the electronic platform / e-class.

Teaching Organization

Students Evaluation

Written final exams (60%) that may include:

• Judgemental questions.
• Short answer questions.
• Comparative evaluation of theory elements.
• True/False and Multiple Choice questions.
• Applications exercises.

In each question, corresponding evaluation points are specified.
Optional assignment (Essay writing and presentation) corresponds to 40% of the final grade.

Recommended Bibliography

1. Παντελής Υψηλάντης, Επιχειρησιακή Έρευνα, εκδ. Προπομπός, Κιμέρης Θ., 2015.
2. Hamdy Taha, Επιχειρησιακή Έρευνα, εκδ. Α. Τζιόλα & Υιοί Α.Ε., 2017.
3. David R. Anderson, Dennis J. Sweeney, Thomas A. Williams, Kipp Martin, Διοικητική επιστήμη -ΠΟΣΟΤΙΚΕΣ ΜΕΘΟΔΟΙ ΓΙΑ ΤΗ ΛΗΨΗ ΕΠΙΧΕΙΡΗΜΑΤΙΚΩΝ ΑΠΟΦΑΣΕΩΝ, Εκδ. Κριτική, Αθήνα, 2014.

Related Research Journals

1. European Journal of Operational Research.
2. Journal of the Operational Research Society.
3. International Journal of Operational Research.
4. Operational Research.