ME 308— IEOR -1

Internet Resources:

OR

IE

  • Critical Path method (CPM):
  • CPM and PERT:
  • Project Appraisal NPTEL Video lectures:

Interesting Links for IEOR:

Description: The course is basically divided into 2 parts taught in parallel (Industrial engineering (IE)-Prof. Subash Babu and Operations Research (OR)- Prof PG Awate). Both subjects have immense practical applications and you are bound to apply principles taught in this course in some form or the other during your work experience. IE will be a brief introduction to project appraisal methods, project management tools (CPM, PERT), transportation problems, value engineering, decision analysis etc. OR is a subject which has its origins in strategic decision-making theories from WWII. It is a more theoretical course with decent emphasis on linear algebra and mathematics which is essential to truly appreciate the capability of OR to solve real-life problems.The ‘interesting links’ provided below are highly recommended reads as they shall be a good eye-opener to field OR and its applications.

Course Contents:

Operations Research:

  • Linear Programming Formulation
  • Simplex algorithm
  • Duality, Primal-Dual relationships
  • Maximal Flow Problem
  • Assignment Problem
  • Dynamic Programming
  • Shortest Path Problem
  • Min Spanning Tree

Industrial Engineering:

  • Project Appraisal methods(financial)
  • Transportation problem
  • Location Problem
  • Travelling Salesman Problem
  • Project Management (CPM, PERT)

Motivation:

  • Operational research (OR) encompasses a wide range of problem-solving techniques and methods applied in the pursuit of improved decision-making and efficiency. Some of the tools used by operational researchers arestatistics, optimization, probability theory, queuing theory, game theory, graph theory, decision analysis, mathematical modeling and simulation. Because of the computational nature of these fields, OR also has strong ties to computer science and analytics. Operational researchers faced with a new problem must determine which of these techniques are most appropriate given the nature of the system, the goals for improvement, and constraints on time and computing power.
  • Examples of where industrial engineering(IE) might be used include designing an assembly workstation, strategizing for various operational logistics, consulting as an efficiency expert, developing a new financial algorithm or loan system for a bank, streamlining operation and emergency room location or usage in a hospital, planning complex distribution schemes for materials or products (referred to as Supply Chain Management), and shortening lines (or queues) at a bank, hospital, or a theme park.
  • Courses with this course as unofficial or official pre-requisite:
    • IE 651: Inventory Control and Management Systems (Though not many courses require this course as a pre-resuisite, IEOR is a different field in itself and the philosophical and mathematical implications of this course are typically very useful in business administration)

Resources: While it is a good practice to refer to textbooks or video lectures besides your class notes, it is also important to remember that these sources may not be flawless. Reference material should only be used as a tool to strengthen concepts and not as a substitute for your class notes.

Books

  • “Operations Research: An introduction”, Eighth Edition, Taha, Hamdy (Can be used as a course text book)
  • “Project Appraisal”, Prasanna Chandra
  • D.R Anderson , D.J Sweeney and T.A Williams, “An introduction to Management Science-Quantitative approaches to decision making”, Thomson India Ed. 2007
  • J.A Tomkins, J.A White, Y.A Bozer and J.M.A. Tanchoco, “Facilities Planning”, John Wiley & Sons, 2003
  • A.Ravindran, D.T Philips and J.J Solberg, “Operations Research” , Principles and Practice, John Wiley & Sons, 2003
  • E.L Grant, W.G Ireson and R.L Leavenworth, “Principles of Engineering Economy”, John Wiley & Sons (7 th Ed)
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