Optimisation in Business and Industry

Course code MATH3840Units 10Level 3000Faculty of Science and Information TechnologySchool of Mathematical and Physical Sciences

This course showcases the enormous impact of optimisation in business and industry, particularly in supply chain logistics. Optimisation forms the basis for strategic planning in many key sectors, and underpins much decision support software for operational planning and scheduling. With the growth of larger, more complex, and often global enterprises, optimisation has become an essential tool for the planning and management of such enterprises. Many businesses and industry depend critically on optimisation for their profitability.

The course will investigate mathematical approaches used in recent years to address critical issues for business and industry, particularly in the areas of logistics and supply chains. Integrated supply chain modelling, network planning, inventory management, and approaches solution of large-scale models will all be explored.

Available in 2014

Callaghan CampusSemester 2
Previously offered in 2013, 2012, 2011, 2010
ObjectivesOn successful completion of this course, students will have:

1. An understanding of the complexities and scale of modern business operations, and the use of optimisation models to design and manage them
2. Advanced skills in modelling large, complex, business and industrial optimisation problems
3. Increased abilities to model and solve business problems with advanced operations research techniques.
ContentThe course will discuss recent cases of the application of optimisation and mathematical techniques to address business issues. It will cover the use of both strategic and operational planning models. The course will span a range of business planning problems, but with a focus on logistics and supply chains, integrated modelling, large-scale modelling, network planning, co-ordination and collaboration, and inventory management. The use of appropriate software for modelling will be incorporated, and students will be asked to practice modelling business problems with this software.
Replacing Course(s)NA
TransitionNA
Industrial Experience0
Assumed KnowledgeTwo courses from:
MATH1110 or MATH1210,
STAT1060 or STAT1070
MATH1510,
ECON1003,
EBUS2123 (BBus students are strongly advised to complete EBus2123 before enrolling in MATH3840) .
Modes of DeliveryInternal Mode
Teaching MethodsLecture
Tutorial
Computer Lab
Assessment Items
Essays / Written Assignments
Examination: Formal
Projects
Contact HoursLecture: for 3 hour(s) per Week for Full Term
Timetables2014 Course Timetables for MATH3840