School

University of WinnipegDepartment

BUSINESS AND ADMINISTRATIONCourse Code

BUS-2501Professor

Brian RodgerStudy Guide

FinalThis

**preview**shows half of the first page. to view the full**2 pages of the document.**Final review (basic requirements)

Transportation model (basic model and transshipment problem):

.Understand the problem

. Be able to use LP to formulate the problem

Decision variables, Objective function and Constraints

. Be able to use a given empty worksheet to build excel model

Decision Tree

.Understand the problem

.Be able to draw a decision tree (decision nodes, chance nodes, payoffs)

.Understand and know how to calculate expected values

.Recommendation/decision

Project management

. Concepts:

.What is project

.Project life cycle

.Critical path

. Path slack

.ES, EF, LS, LF

. Requirements

.Understand Gantt charts and be able to draw a Gantt chart and determine how long a

project can be complete

.Understand and be able to draw a precedence network diagram

.Determine critical path and project duration time using ES, EF, LS, and LF

.Understand slack time

Forecasting

• Concepts

.Forecasting: long term, intermediate term and short term

.Forecasting process

.Forecasting error, MAD, MSE, s, track signal

. Forecasting methods

. Judgemental: sales estimate, executive opinion, market research, and Delphi method

. Time series: (understand model and know how to choose an appropriate forecasting model)

Naive

Simple average

Simple moving average and weighted moving average

Exponential smoothing

Adjustment for seasonality

. Tracking signal: understand how to test a forecasting model

Inventory management

.Understand ABC system

.Understand basic EOQ model, EOQ with quantity discount model, and EPQ model

• Basic EOQ

• Basic assumptions

###### You're Reading a Preview

Unlock to view full version