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Contents

About the Authors xi Simulation 21
Preface xiii Decision Analysis 21
Acknowledgements xv Multicriteria analysis 21
Integer Linear Programming 21
Forecasting 21
1 Introduction 1 Dynamic Programming 22
Markov Process Models 22
1.1 Introduction to Management Science 2
Summary 22
Does it Work? 2
Worked Example 22
1.2 Where Did MS Come From? 4 Problems 24
1.3 Management Science Applications 5 Case Problem Uhuru Craft Cooperative, Tanzania 27
Assignment 5 Appendix 1.1 Using Excel for Breakeven Analysis 27
Data Mining 5 Appendix 1.2 The Management Scientist Software 30
Financial Decision Making 6
Forecasting 6 2 An Introduction to Linear
Logistics 6
Programming 33
Marketing 6
Networks 6 2.1 A Maximization Problem 35
Optimization 7 Problem Formulation 36
Project Planning and Management 7 Mathematical Statement of the GulfGolf
Queuing 7 Problem 39
Simulation 7
2.2 Graphical Solution Procedure 40
Transportation 8
A Note on Graphing Lines 48
1.4 The MS Approach 8 Summary of the Graphical Solution Procedure for
Problem Recognition 9 Maximization Problems 50
Problem Structuring and Definition 9 Slack Variables 51
Modelling and Analysis 10
2.3 Extreme Points and the Optimal Solution 53
Solutions and Recommendations 11
2.4 Computer Solution of the GulfGolf Problem 54
Implementation 11
Interpretation of Computer Output 55
1.5 Models 12
2.5 A Minimization Problem 57
1.6 Models of Cost, Revenue and Profit 15
Summary of the Graphical Solution Procedure for
Cost and Volume Models 15
Minimization Problems 58
Revenue and Volume Models 16
Surplus Variables 59
Profit and Volume Models 17
Computer Solution of the M&D Chemicals
Breakeven Analysis 17
Problem 61
1.7 The Modelling Process 18
2.6 Special Cases 62
1.8 Management Science Models and Alternative Optimal Solutions 62
Techniques 20 Infeasibility 63
Linear Programming 20 Unbounded Problems 64
Transportation and Assignment 20
2.7 General Linear Programming Notation 66
Network Models 20
Summary 67
Project Management 20
Worked Example 68
Inventory Models 21
Problems 71
Queuing Models 21
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