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Operations Research Part-III
Rating: 1.0 out of 5(1 rating)
13 students

Operations Research Part-III

Learn basic concepts of Dynamic Programming, Game theory, Inventory Model and Sequencing Model in Operations Research
Created bySamanwita Bagg
Last updated 11/2024
English

What you'll learn

  • Dynamic Programming
  • Game Theory
  • Inventory Model
  • Sequencing Model

Course content

4 sections • 42 lectures • 9h 15m total length

  • Dynamic Programming Concept10:51

    This video explains the concept of Dynamic Programming

  • Numerical-I Employment Smoothening Problem17:53

    This video explains a numerical on Employment Smoothening Problem of Dynamic Programming.

  • Numerical-II Capital Budgeting Problem20:17

    This video explains a numerical on Capital Budgeting Problem of Dynamic Programming.

  • Numerical-III Shortest Path Problem14:46

    This video explains a numerical on Shortest Path Problem of Dynamic Programming.

  • Numerical-IV Cargo Loading Problem25:49

    This video explains a numerical on Cargo Loading Problem.

Requirements

  • Basic Mathematics
  • Basic Knowledge of Management subjects

Description

This course is the third part of the lecture series of Operations Research course. It takes you through various topics like Dynamic Programming, Game theory, Inventory Model and Sequencing Model. Various numerical are solved to explain the concepts and their applications. Basic Mathematics and Basic Knowledge of Management subjects are the requirement for understanding of this subject.

We start with Dynamic Programming and then discuss about the concept and numericals on Employment Smoothening Problem, Capital Budgeting Problem, Shortest Path Problem and Cargo Loading Problem.

Further, we move to the concept of Game theory and then discuss about Theory of Games, Characteristics of Games, Game Models, Pure and Mixed Strategy in OR, Terminologies used in Game Theory, Rules for Game Theory, Minimax Maximin Principle, Odd's Principle, Dominance Principle, Equal Game Method, Hawk vs Dove Game Model and Limitation of Game Theory. Further there are numericals discussed on few of the topics.

Third section deals with Inventory Model. Here concepts like Necessity for Maintaining Inventory, Inventory Costs, Inventory Management, Inventory Control Problem, ABC Analysis of Inventory, Just-In-Time (JIT) Inventory, Classification of Fixed Order Quantity Inventory Models, Classical EOQ Model and Limitation of Classical EOQ Model are discussed. Numericals are solved for the Classical EOQ Model.

Lastly Sequencing Model is discussed in theory and numericals form. Numericals on n jobs on 2 machines, n jobs on 3 machines and 2 jobs on m machines are solved.

Happy Learning!

Who this course is for:

  • B.E./BTech Students
  • MBA Students
  • Practising Engineers
  • Post Graduate Students i.e. M.E./MTech

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