The University of Newcastle, Australia
Available in 2019

Course handbook

Description

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 to solutions of large-scale models will all be explored.


Availability2019 Course Timetables

Callaghan

  • Semester 2 - 2019

Learning outcomes

On successful completion of the course students will be able to:

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.


Content

The 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.


Assumed knowledge

MATH3840Optimisation in Business and IndustryThis 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 to solutions of large-scale models will all be explored.FSCITFaculty of Science724School of Mathematical and Physical Sciences1030005980Semester 2 - 2019CALLAGHANCallaghan2019Two courses from:

MATH1110 or MATH1210,

STAT1060 or STAT1070

MATH1510,

ECON1003,

EBUS2123 (BBus students are strongly advised to complete EBus2123 before enrolling in MATH3840) .The 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. YOn successful completion of this course, students will be able to:1An understanding of the complexities and scale of modern business operations, and the use of optimisation models to design and manage them2Advanced skills in modelling large, complex, business and industrial optimisation problems3Increased abilities to model and solve business problems with advanced operations research techniques. Written Assignment: Written AssignmentsProject: Group Project and PresentationFormal Examination: ExaminationCase Study / Problem Based Learning: Individual Case Study CallaghanComputer LabFace to Face On Campus1hour(s)per Week for0Full Term1LectureFace to Face On Campus2hour(s)per Week for0Full Term0


Assessment items

Written Assignment: Written Assignments

Project: Group Project and Presentation

Formal Examination: Examination

Case Study / Problem Based Learning: Individual Case Study


Contact hours

Callaghan

Computer Lab

Face to Face On Campus 1 hour(s) per Week for Full Term starting in week 1

Lecture

Face to Face On Campus 2 hour(s) per Week for Full Term