The objective of this management science book is to help the reader solve the decision-making problems that confront managers in both the public and private sectors. It demonstrates the use of mathematical models to solve these problems, and provides numerous examples and illustrations to help the reader easily understand the material presented. Its concentration on computer solutions with Excel spreadsheets allows the reader to focus on the newest technological tools.

Topics covered in this comprehensive book are linear programming; integer programming; transportation, transshipment, and assignment problems; network flow models; project management; nonlinear programming; probability and statistics; decision analysis; queuing analysis; simulation; forecasting; and inventory management.

With its comprehensive appendices and CD-ROM module examples, this book is an excellent reference work for managers that utilize modeling techniques to solve problems and make decisions.

1.    Management Science

       The Management Science Approach to Problem Solving

       Model Building: Break-Even Analysis

       Computer Solution

       Management Science Modeling Techniques

       Business Usage of Management Science    

2.    Linear Programming: Model Formulation and Graphical Solution

       Model Formulation

       A Maximization Model Example 

       Graphical Solutions of Linear Programming Methods

       A Minimization Model Example

       Irregular Types of Linear Programming Problems

       Characteristics of Linear Programming Problems    

3.    Linear Programming: Computer Solution and Sensitivity Analysis

       Computer Solution

       Sensitivity Analysis

4.    Linear Programming: Modeling Examples

       A Product Mix Example

       A Diet Example

       An Investment Example

       A Marketing Example

       A Transportation Example

       A Blend Example

       A Multiperiod Scheduling Example

       A Data Envelopment Analysis Example  

5.    Integer Programming

       Integer Programming Models

       Integer Programming Graphical Solution

       Computer Solution of Integer Programming Problems with Excel and QM for Windows

       0-1 Integer Programming Modeling Examples

6.    Transportation, Transshipment, and Assignment Problems

       The Transportation Model 

       The Transshipment Model

       The Assignment Model

       Computer Solution of the Assignment Problem   

7.    Network Flow Models

       Network Components

       The Shortest Route Problem

       The Minimal Spanning Tree Problem

       The Maximal Flow Problem 

8.    Project Management

       The Elements of Project Management

       Project Networks

       Probabilistic Activity Times

       Activity-on-Node Networks and Microsoft Project

       Project Crashing and Time-Cost Trade-Off

       Formulating the CPM/PERT Network as a Linear Programming Model

9.    Multicriteria Decision Making

       Goal Programming

       Graphical Interpretation of Goal Programming

       Computer Solution of Goal Programming Problems with QM for Windows and Excel      

       The Analytical Hierarchy Process

       Scoring Model

10.  Nonlinear Programming

       Nonlinear Profit Analysis

       Constrained Optimization

       Solution of Nonlinear Programming Problems with Excel

       A Nonlinear Programming Model with Multiple Constraints

       Nonlinear Model Examples     

11.  Probability and Statistics

       Types of Probability

       Fundamentals of Probability

       Statistical Independence and Dependence

       Expected Value

       The Normal Distribution

12.  Decision Analysis

       Components of Decision Making

       Decision Making without Probabilities

       Decision Making with Probabilities

       Utility

13.  Queuing Analysis

       Elements of Waiting Line Analysis

       The Single-Server Waiting Line System

       Undefined and Constant Service times

       Finite Queue Length

       Finite Calling Population

       The Multiple-Server Waiting Line

       Additional Types of Queuing Systems

14.  Simulation

       The Monte Carlo Process

       Computer Simulation with Excel Spreadsheets

       Simulation of a Queuing System

       Continuous Probability Distributions

       Statistical Analysis of Simulation Results

       Crystal Ball

       Verification of the Simulation Model

       Areas of Simulation Application

15.  Forecasting

       Forecasting Components

       Time Series Methods

       Forecast Accuracy

       Time Series Forecasting Using Excel

       Time Series Forecasting Using QM for Windows

       Regression Methods

16.  Inventory Management

       Elements of Inventory Management

       Inventory Control Systems

       Economic Order Quantity Models 

       The Basic EOQ Model

       The EOQ Model with Noninstantaneous Receipt

       The EOQ Model with Shortages

       EOQ Analysis with QM for Windows

       EOQ Analysis with Excel and Excel QM    

       Quantity Discounts

       Reorder Point

       Determining Safety Stocks Using Service Levels

       Order Quantity for a Periodic Inventory System         

Appendix A

Normal Table

Appendix B

Setting Up and Editing a Spreadsheet

Appendix C

The Poisson and Exponential Distributions

Solutions to Slected Odd-Numbered Problems

Glossary

Index

Photo Credits

CD-ROM Modules