Techniques For Effective Decision Making In Production Process
Introduction
Operations research is a bouquet of mathematical techniques to improve the process of business decision making.
It offers tools to optimize and find best solutions to decision making problems that managers have to take in
their day-to-day operations or while carrying out strategic planning. In today’s competitive business environment,
the success of a firm depends largely on the capability of its managers in taking effective decisions within the
constraints posed by environment, market and internal forces. Executives in every organization should use
operations research to model real world situations and make better decisions with less risk and improve day-today
operations
Objectives of the MDP
- To provide understanding of various tools of operations research and their applications
- To enhance competence for effective decision making in various business situations
Programme Contents
- Introduction, Significance, Modeling of real life business problems
- LPP formulation, solution and sensitivity analysis using Excel.
- Time-effective scheduling models for optimum utilization of facilities.
Pedagogy
Interactive sessions with mix of formal lectures, practical sessions and hands-on for solving various exercises
and real life production problems
For Whom
- Supervisors, Managers, Production heads of small and medium enterprises, PSUs, etc.
Duration:
One day.
Faculty Incharge
Mr. Sunny Seth