Modeling Business Decisions: An Introduction to Management Science

In today's competitive environment, effective management relies on structured, quantitative methods rather than intuition alone. This course provides the analytical framework needed to transform complex operational challenges into solvable mathematical models. By the end of this course, you will possess the foundational knowledge of Management Science required to analyze resource constraints, optimize processes, and make financially sound decisions across various business functions. What you'll learn: * Understand the fundamental concepts of prescriptive analytics and the modeling process for business problems. * Formulate and solve resource allocation problems using Linear Programming (LP) and interpret the results of sensitivity analysis. * Apply specialized optimization models, including transportation, assignment, and network flow problems. * Analyze project timelines and dependencies using project management techniques like Program Evaluation and Review Technique (PERT) and Critical Path Method (CPM). * Design basic inventory control policies using Economic Order Quantity (EOQ) models and understand the trade-offs between ordering and holding costs. We start by defining the core principles of decision modeling, then progress through various optimization techniques and practical applications in areas like operations, logistics, and project management, focusing on written formulation and interpretation of results. This course is designed for absolute beginners in management science, business analysts, and operations professionals seeking to master quantitative decision-making methods. No prior knowledge of advanced mathematics or statistics is required. Begin your journey toward data-driven decision-making today.