QUANTITATIVE TECHNIQUES FOR DECISION MAKING

• Operations Research: Assumptions, advantages and disadvantages
• Linear Programming: Meaning, assumptions, features, methods: Graphic method and Simplex method, concept of duality, multiple solutions.
• Dynamic Programming: Meaning, features, models
• General Sequencing Problems and Goal programming problems

● Transportation: Methods, Degeneracy, special cases: Balance problems, unbalanced problems, prohibited problems, preferred problems.
● Assignment: Methods, multiple optimum solutions, special cases: Balance problems, unbalanced problems, prohibited problems, preferred problems.

● Game Theory: Games of Pure strategy, Games of Mixed strategy, Law of Dominance, Sub Game method, graphical method
● Replacement Theory: Meaning, features, advantages, disadvantages, application areas, methods of replacement of an assets

● Deterministic Models of Stock: Meaning, features, advantages and disadvantages, role of inventory model, methods, practical approaches of inventory models.
● Statistical Quality control: Meaning, Features, Roles, Various charts and their functionality

● Network Analysis (PERT/CPM): Introduction, Basic Concept, Drawing a network diagram, Concept of Critical Path, Probability Consideration under Pert, Crashing a Network and determining project cost trade off, scheduling a network with various constraints like manpower equipment etc.