Название: An Introduction to Management Science: Quantitative Approaches to Decision Making, 16th EditionАвтор: Jeffrey D. Camm, James J. Cochran, Michael J. Fry, Jeffrey W. Ohlmann
Издательство: Cengage Learning
Год: 2023
Страниц: 818
Язык: английский
Формат: pdf (true)
Размер: 31.3 MB
Gain a strong understanding of the role of management science in the decision-making process while mastering the latest advantages of Microsoft Office Excel 365 with Camm/Cochran/Fry/Ohlmann/Anderson/Sweeney/Williams' AN INTRODUCTION TO MANAGEMENT SCIENCE: QUANTITATIVE APPROACHES TO DECISION MAKING, 16E. This market-leading edition uses a proven problem-scenario approach in a new full-color design as the authors introduce each quantitative technique within an application setting. You learn to apply the management science model to generate solutions and make recommendations for management. Updates clarify concept explanations while new vignettes and problems demonstrate concepts at work. All data sets, applications and screen visuals reflect the details of Excel 365 to prepare you to work with the latest spreadsheet tools.
From the first edition, we have been committed to the challenge of writing a textbook that would help make the mathematical and technical concepts of management science understandable and useful to students of business and economics. Judging from the responses from our teaching colleagues and thousands of students, we have successfully met the challenge. Indeed, it is the helpful comments and suggestions of many loyal users that have been a major reason why the text is so successful.
Management science, an approach to decision making based on the scientific method, makes extensive use of quantitative analysis. A variety of names exist for the body of knowledge involving quantitative approaches to decision making; in addition to management science, two other widely known and accepted names are operations research and decision science. Today, many use the terms management science, operations research, and decision science interchangeably.
Linear programming is a problem-solving approach developed to help managers make decisions. Numerous applications of linear programming can be found in today’s competitive business environment. For instance, IBM uses linear programming to perform capacity planning and to make capacity investment decisions for its semiconductor manufacturing operations. GE Capital uses linear programming to help determine optimal lease structuring. Marathon Oil Company uses linear programming for gasoline blending and to evaluate the economics of a new terminal or pipeline. The Management Science in Action, Timber Harvesting Model at MeadWestvaco Corporation, provides another example of the use of linear programming. Later in the chapter, another Management Science in Action illustrates how IBM uses linear programming and other management science tools to plan and operate its semiconductor supply chain.
Contents:
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