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Quantitative Techniques QT Syllabus ILC FOL DU Semester 4

The course 'Quantitative Techniques for Management' is a 6-credit program designed to equip students with quantitative tools for effective decision-making in business contexts. It covers topics such as linear programming, transportation and assignment problems, inventory management, game theory, and project scheduling using techniques like PERT and CPM. Students will engage in practical exercises using software tools like MS Excel to apply these techniques and analyze solutions.

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Shubham Shukla
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96 views3 pages

Quantitative Techniques QT Syllabus ILC FOL DU Semester 4

The course 'Quantitative Techniques for Management' is a 6-credit program designed to equip students with quantitative tools for effective decision-making in business contexts. It covers topics such as linear programming, transportation and assignment problems, inventory management, game theory, and project scheduling using techniques like PERT and CPM. Students will engage in practical exercises using software tools like MS Excel to apply these techniques and analyze solutions.

Uploaded by

Shubham Shukla
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© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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DISCIPLINE SPECIFIC CORE COURSE

QUANTITATIVE TECHNIQUES FOR MANAGEMENT

Credit Distribution, Eligibility and Pre-requisites of the Course

Course Title & Credits Credit distribution of the course Eligibilit Pre-requisite
Code Lecture Tutorial Practical/ y criteria of the course
Practice (if any)
Quantitative 6 5 1 0 CLASS NIL
Techniques for
Management
XII

Learning Objectives
The course aims to develop the knowledge of quantitative tools for decision-making and to prepare for the
application of these tools in different organizational settings. The focus of the course is to train the students
in the mathematical formulation of real-life business problems and apply quantitative approaches to find
optimal solutions.

Learning Outcomes
On completion of the course, students will be able to:
1. Understand the decision-making process under different business situations and the role of
quantitative analysis in the decision-making process.
2. Learn the quantitative approaches to find optimum solutions to various business problems
constrained by the availability of resources and understand the sensitivity of various decision
variables, resource limitation on the solution obtained through quantitative approaches.
3. Ensure prudent and cost-effective decision-making in transportation and assignment problems.
4. Learn various models of Inventory management and application of game theory in deciding
business strategies.
5. Work on project scheduling and controlling problems using PERT and CPM technique.
Unit – I: Fundamentals of Decision Making
Types of decisions; Steps in decision making; Quantitative analysis and decision making; Different types
of models and their uses; Model building steps.

Unit II - Linear Programming


Basic concepts; mathematical formulation and applications of LPP; Solution to Linear Programming
Problem (LPP) using the graphical method – unboundedness, infeasibility, multiple optimal solution.
Solution to Linear Programming Problem (LPP) using Simplex method – solution to Maximization and
Minimization problem, infeasibility, degeneracy, multiple optimal solution, Sensitivity analysis and
interpretation of solution (using MS-Excel Solver or other software package).

Unit III – Transportation and Assignment


Transportation Problems: Formulation of transportation problem, Balanced and unbalanced transportation
problem; Solving transportation problem – Initial solution using Vogel’s Approximation Method (VAM),
testing for optimality using Modified Distribution (MODI) method, Degenerate solution. solution to
maximization type of transportation problems.
Assignment Problems: Formulation of Assignment problems, Balanced and unbalanced assignment
problem, Solving Assignment problems using the Hungarian Method, solution to maximization type of
assignment problems.

Unit IV – Inventory Management and Game Theory


Inventory Management: Concepts of inventory management; Inventory models– classical EOQ, EOQ with
price breaks, EOQ model for production runs, planned shortage model deciding optimum safety stock and
reorder level, Selective inventory control techniques.
Game Theory: Pure strategy games; Mixed strategy games; Value of the game; Solving m x n games by
reducing to 2 x 2 games using rules of dominance.

Unit V – Project Scheduling


Concepts of PERT & CPM techniques and their applications; Network analysis- scheduling activities,
determining critical path, calculation of floats; Time-cost trade-off, Resource allocation & Resource
Levelling.
Practical Exercises
1. Solving LPP using MS-Excel Solver or other software package and interpreting the
solution given by the package
2. Carrying out Sensitivity Analysis of the LPP using MS-Excel Solver or other software
package
3. Use of Software packages like MS Excel to Solving Transportation and Assignment
Problems and interpret the solution given by the package; Carrying out Sensitivity Analysis
to the problem using MS Excel.
4. Carrying out Monte-Carlo simulation on MS-excel for probabilistic Inventory
Management problems.

References
1. Vohra, N. D. & Arora, H. (2021). Quantitative Techniques in Management. McGraw Hill
Education.
2. Anderson, D. R., Sweeney, D. J., Williams, T. A., Camm, J. D., and Cochran, J. J. (2022). An
Introduction to Management Science: Quantitative Approaches to Decision Making. Cengage
Learning India Pvt. Ltd.
3. Taha, H.A. (2019). Operations Research: An Introduction. Pearson Publication.

Note: Examination scheme and mode shall be as prescribed by the Examination Branch, University
of Delhi, from time to time.

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