Operations Research in Practice

Korea University

Course Description

  • Course Name

    Operations Research in Practice

  • Host University

    Korea University

  • Location

    Seoul, South Korea

  • Area of Study

    Research Methodology

  • Language Level

    Taught In English

  • Course Level Recommendations

    Lower

    ISA offers course level recommendations in an effort to facilitate the determination of course levels by credential evaluators.We advice each institution to have their own credentials evaluator make the final decision regrading course levels.

    Hours & Credits

  • Credits

    3
  • Recommended U.S. Semester Credits
    3
  • Recommended U.S. Quarter Units
    4
  • Overview

    Course Description:

    This course is a hands-on introduction to computational optimization techniques, in particular for modelling and solving linear and discrete optimization problems. Computational optimization is one of the most important areas within operations research (OR), which is a discipline that uses modelling techniques, analytics and computational methods to solve complex problems in industry and business. In this course you will learn to interpret and develop algebraic models for a variety of real-world linear and discrete optimization problems to then use powerful optimization software (linear, integer and mixed-integer solvers) to produce a solution. Optimization technology is ubiquitous in today's world, for applications in logistics, finance, manufacturing, workforce planning, product selection, healthcare, and any other area where the limited resources must be used efficiently. This course will teach students a variety of analytical, modelling and problem-solving techniques. This course is designed for students from different backgrounds including business, engineering, computing, etc. as it assumes no prior knowledge of modelling and optimization. The book is not essential for this course but students will find useful to have it as additional support. Given the practical nature of this course, it is essential that students have access to a recent version of Microsoft Excel in their own computer during the course. Important: students will be provided with brief course notes.

    Syllabus:

    1. Preliminary Concepts and Techniques
      1. Management Science
      2. Basic Spreadsheet Skills
      3. Modelling and Optimization
      4. Linear Programming Models
      5. Spreadsheet vs. Algebraic Models
    2. Product-Mix Optimization
      1. Product-Mix Problems
      2. Post-optimality Analysis
      3. Sensitivity Analysis
    3. Network Flow Optimization
      1. Transportation Problem
      2. Minimum Cost Flow Problem
      3. Maximum Flow Problem
      4. Shortest Path as Flow Problem
    4. Integer Optimization I
      1. Selection Problems
      2. Assignment Problems
      3. Packing Problems
      4. Open Solver Add-in
    5. Integer Optimization II
      1. Routing Problems
      2. Location Problems

Course Disclaimer

Courses and course hours of instruction are subject to change.