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SABA - OPTIMIZATION

Optimization (Production & Operation Management) labs equips students with a number of tools and techniques used to make decision on Product, Price and Promotion. They include Optimization, Cash Budgeting, Break-Even & Operating Leverage.
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ABOUT THE PROGRAM

Optimization technique i.e., finding maximum or minimum value of an objective function within the constraints has many applications in the science of management. This particular lab deals with its specific applications to productions and operations management.

EXPECTED LEARNING OUTCOME

At the end of the following labs, students will be confident of solving optimizations problems in Microsoft Excel.

KEY FEATURES

  • One 90 minutes webinar lecture session per each lab
  • One 90 minutes online doubt solving session per each lab
  • Access to video lessons for Additional References per each lab
  • One set of carefully selected problem sets per each lab
  • Searchable and dedicated discussion Forum thread for each lab
  • Grading and Overall Feedback video for each lab

  • DURATION:

    3 – 4 Weeks

  • PREREQUISITE:

    EXCEL Primer

  • PRICE:

    Conveniently priced on per lab basis for a section of up to 60 students.

  • WORKLOAD:

    2-3 hours per week preferably during evening or weekends.

  • TECHNLOGY:

    Laptop with Microsoft Office 2007 or later, OR access to college computer lab, AND bandwidth.

  • USAGE:

    Recommended to be used as course companion labs in “Productions and Operations Management” course or as a standalone value adding certification program in MBA level programs.

LAB DETAILS

  • Lab 1: Product Mix Optimization Applications

    This lab helps students in determining the output levels of a combination of products in order to maximize profit.

  • Lab 2: Inventory & EOQ Applications

    This lab helps students in determining the inventory levels of multiple inputs in order to minimize inventory carrying cost or stock out cost.

  • Lab 3: Price Optimization Applications

    This lab helps students in determining the prices levels of multiple products in order to maximize revenue.