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Syllabus ADM

The document outlines the course IM355TBD - Advanced Decision Modelling, which is a professional core elective for semester V, focusing on stochastic models for complex decision-making. It covers various topics including queuing models, Markov chains, inventory control models, replacement and maintenance models, and sequencing problems. The course aims to equip students with the skills to formulate, analyze, and solve real-world stochastic problems using appropriate methodologies and tools.

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2 views1 page

Syllabus ADM

The document outlines the course IM355TBD - Advanced Decision Modelling, which is a professional core elective for semester V, focusing on stochastic models for complex decision-making. It covers various topics including queuing models, Markov chains, inventory control models, replacement and maintenance models, and sequencing problems. The course aims to equip students with the skills to formulate, analyze, and solve real-world stochastic problems using appropriate methodologies and tools.

Uploaded by

shrutib.im22
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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IM355TBD – ADVANCED DECISION MODELLING

Semester: V
ADVANCED DECISION MODELLING
Category: Professional Core Elective
(THEORY)
Course Code : IM355TBD CIE : 100 Marks
Credits: L:T:P : 3:0:0 SEE : 100 Marks
Total Hours : 42L SEE Duration : 3.00 Hours
Course Learning Objectives: The students will be able to
1. Develop the skills in the application of Stochastic models for complex decision making situations.
2. Implement the methodology and tools of Stochastic Modeling to assist decision-making.

Unit-I 06 Hrs
Queuing Models: Introduction, The Structure of a Queuing System, Performance Measures of a Queuing
System, Probability Distributions in Queuing Systems, Classification of Queuing Models, Single-Server
Queuing Models (M/M/1) and Problems
Unit – II 08 Hrs
Markov Chains: Introduction, Characteristics of a Markov Chain, Applications of Markov Analysis, State and
Transition Probabilities, Multi-Period Transition Probabilities, Steady-State (Equilibrium) Conditions,
Absorbing States and Accounts Receivable Application
Unit –III 08 Hrs
Inventory Control Models: Introduction, The Meaning of Inventory Control, Functional Role of Inventory,
Reasons for Carrying Inventory, Factors Involved in Inventory Problem Analysis, Inventory Model Building,
Single Item Inventory Control Models without Shortages, Single Item Inventory Control Models with Shortages
Unit –IV 08 Hrs
Replacement and Maintenance Models: Introduction, Types of Failure, Replacement of Items whose
Efficiency Deteriorates with Time, Replacement of Items that Completely Fail, Other Replacement
Problems.
Unit –V 06 Hrs
Sequencing Problems: Introduction, Notations, Terminology and Assumptions, Processing n Jobs
Through Two Machines, Processing n Jobs Through Three Machines, Processing n Jobs Through m
Machines, Processing Two Jobs Through m Machines

Course Outcomes: After completing the course, the students will be able to know
CO1: Formulate a stochastic problem.
CO2: Choose an adequate modeling technique for particular stochastic problems.
CO3: Solve real-world stochastic problems with the aid of appropriate tools.
CO4: Analyze the solution of stochastic problems.

Reference Books
1. Introduction to Operations Research, F. S. Hillier and G. J. Lieberman, Bodhibrata Nag, Preetam Basu, 9th
Edition, 2012, McGraw-Hill, New Delhi, India.
2. Operations Research: Principles and Practice, A. Ravindran, D. Phillips, and J. Solberg, 2 nd Edition,
JohnWiley & Sons, 1987, ISBN: 978-0-471-08608-6.
3. Introduction to Probability Models: Operations Research, W.L. Winston, Volume II, 4th Edition,
Cengage Learning, 2003, ISBN-10 : 053440572X.
4. Operations Research: An Introduction, H.A. Taha, 9th Edition, Prentice Hall, 2010.

Dr. Vivekanand S Gogi Industrial Engineering & Management Page 1 Of 1

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