SCM6005 - Decision Modelling for Managers
|Year of Study:||1 or 2|
This course teaches a range of quantitative methods for making practical decisions with emphasis on supply chain management issues. The methods covered include linear programming, network models, nonlinear programming, decision trees, and simulation modelling. At the end of the course, the students are required to create a simulation-based decision support system for a selected SCM topic.
Upon completion of this module, students should be able to:
- use own judgement to select data, build appropriate quantitative models, and make recommendations based on model solution;
- combine multiple modelling techniques to solve complex decision problems;
- employ sensitivity analysis to assess problem behaviour;
- analyse and explain the impact of uncertainty on system efficiency; and
- incorporate risk preferences into decision models.