Faculty of Business, Economics and Statistics

Department of Business Administration


 040894 KFK PM/SCM/TL: 

Praktikum LP-Modeling I  (E)
4 ECTS points



Lecturer

Dr. Romauch Martin

Mode

  • Weekly Thursdays 09.00 - 13:00 in PC-Seminarraum 1
  • This is a course with “immanentem Prüfungscharakter”
  • Blocked (4 academic hours per week) in the first half of the semester
  • First lecture on March 6, 2014
  • Last lecture on April 30, 2014 (Final Exams)
  • E-learning platform: Moodle (you will be added to the moodle course automatically. This will happen  as soon as the registration for this course is closed.)

Objectives

The purpose of this course is to introduce students to mathematical programming which is extensively used in production and logistical management. In this course we will cover linear programming (LP) and prototype applications. Special emphasis will be given to linear programming modeling and its economic interpretation (duality theorem, complementary slackness, sensitivity analysis, etc.), and solving optimization methods using computers.
Students are expected to already know how to deal with Excel’s optimization module to solve LP problems, but later a state-of-the-art computer software, XPress-MP, will be introduced. Excel is fine for solving structurally simple and small scale problems, but for large scale and complex problems XPress is incomparably convenient. Therefore students are expected to be fluent in XPress by the end of this course.

Topics to be covered

  • Linear Programming
  • Introduction to XPress-MP
  • Simplex Method (brief repetition)
  • Sensitivity Analysis & its economic interpretation
  • Advanced Modelling Techniques

Literature and References

  • Class Notes (electronic copies will be made available in Moodle)
  • Applications of optimization with Xpress-MP, by Christelle Guéret, Christian Prins & Marc Sevaux
  • An Introduction to Management Science (quantitative approaches to decision making), by Anderson and Sweeney
  • Operations Research, by Hillier and Liebermann

Prerequisites

  • You already need to have passed one of the introductory courses of our KFK (Production Analysis, Supply Chain Management or Transportation Logistics) or the course Operations Management (old KFK)
  • Basic computer skills (MS Excel, Solver)

Grading Mode

In order to pass the course you’ll need to complete the following tasks:

  • [35%] Final exam - Part I (theoretical stuff, written, individually, closed-book)
  • [35%] Final exam - Part II (practical stuff, computer-based, individually, closed-book)
  • [30%] Homeworks (theoretical and practical in nature, "Kreuzerlliste" in Moodle)
    • will be made available in Moodle, where you also have to announce the assignments that you have prepared.
    • at least 50% of all assigned homeworks need to be prepared
    • you will be picked randomly in order to present your homework at the beginning of class
    • in case you fail to explain what you were supposed to prepare I'll cancel this homework and that of the previous session.
  • In order to pass the course you need to
    • prepare at least 50% of all assigned homework examples
    • achieve at least 50% on both exams (cumulative)

Credits

2 Semesterwochenstunden / 4 ECTS

Language

The course will be held in English.


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