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Operations Research and Management Science Handbook: 1st Edition (Hardback) book cover

Operations Research and Management Science Handbook

1st Edition

Edited by A. Ravi Ravindran

CRC Press

904 pages | 209 B/W Illus.

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Hardback: 9780849397219
pub: 2007-12-05
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Description

Operations Research (OR) began as an interdisciplinary activity to solve complex military problems during World War II. Utilizing principles from mathematics, engineering, business, computer science, economics, and statistics, OR has developed into a full fledged academic discipline with practical application in business, industry, government and military. Currently regarded as a body of established mathematical models and methods essential to solving complicated management issues, OR provides quantitative analysis of problems from which managers can make objective decisions. Operations Research and Management Science (OR/MS) methodologies continue to flourish in numerous decision making fields.

Featuring a mix of international authors, Operations Research and Management Science Handbook combines OR/MS models, methods, and applications into one comprehensive, yet concise volume. The first resource to reach for when confronting OR/MS difficulties, this text –

  • Provides a single source guide in OR/MS
  • Bridges theory and practice
  • Covers all topics relevant to OR/MS
  • Offers a quick reference guide for students, researchers and practitioners
  • Contains unified and up-to-date coverage designed and edited with non-experts in mind
  • Discusses software availability for all OR/MS techniques
  • Includes contributions from a mix of domestic and international experts
  • The 26 chapters in the handbook are divided into two parts. Part I contains 14 chapters that cover the fundamental OR/MS models and methods. Each chapter gives an overview of a particular OR/MS model, its solution methods and illustrates successful applications. Part II of the handbook contains 11 chapters discussing the OR/MS applications in specific areas. They include airlines, e-commerce, energy systems, finance, military, production systems, project management, quality control, reliability, supply chain management and water resources. Part

    II ends with a chapter on the future of OR/MS applications.

    Reviews

    "This handbook provides a comprehensive overview of Operations Research and Management Science (OR/MS) models, methods, and applications in a single volume . . . It is an ideal reference book for OR/MS practitioners in business, industry, government, and academia. It can also serve as a supplemental text in undergraduate and graduate OR/MS courses at the university level."

    – Paulo Mbunga, in Zentralblatt Math, 2009

    Table of Contents

    I OR/MS Models and Methods

    Linear Programming, K. G. Murty

    Brief History of Algorithms for Solving Linear Equations, Linear

    Inequalities, and LPs

    Applicability of the LP Model: Classical Examples of

    Direct Applications

    LP Models Involving Transformations of Variables

    Intelligent Modeling Essential to Get Good Results, an Example from

    Container Shipping

    Planning Uses of LP Models

    Brief Introduction to Algorithms for Solving LP Models

    Software Systems Available for Solving LP Models

    Multiobjective LP Models

    Nonlinear Programming, T.B. Trafalis and R.C. Gilbert

    Introduction

    Unconstrained Optimization

    Constrained Optimization

    Conclusion

    Integer Programming, M. Weng

    Introduction

    Formulation of IP Models

    Branch and Bound Method

    Cutting Plane Method

    Other Solution Methods and Computer Solution

    Network Optimization, M.B. Yildirim

    Introduction

    Notation

    Minimum Cost Flow Problem

    Shortest Path Problem

    Maximum Flow Problem

    Assignment Problem

    Minimum Spanning Tree Problem

    Minimum Cost Multicommodity Flow Problem

    Conclusions

    Multiple Criteria Decision Making, A.S. M. Masud and A. R. Ravindran

    Some Definitions

    The Concept of “Best Solution”

    Criteria Normalization

    Computing Criteria Weights

    Multiple Criteria Methods for Finite

    Alternatives

    Multiple Criteria Mathematical Programming Problems

    Goal Programming

    Method of Global Criterion and Compromise Programming

    Interactive Methods

    MCDM Applications

    MCDM Software

    Further Readings

    Decision Analysis, C. M. Klein

    Introduction

    Terminology for Decision Analysis

    Decision Making under Risk

    Decision Making under Uncertainty

    Practical Decision Analysis

    Conclusions

    Resources

    Dynamic Programming, J. A. Ventura

    Introduction

    Deterministic Dynamic Programming Models

    Stochastic Dynamic Programming Models

    Conclusions

    Stochastic Processes, S. H. Xu

    Introduction

    Poisson Processes

    Discrete-Time Markov Chains

    Continuous-Time Markov Chains

    Renewal Theory

    Software Products Available for Solving

    Stochastic Models

    Queueing Theory, N. Gautam

    Introduction

    Queueing Theory Basics

    Single-Station and Single-Class Queues

    Single-Station and Multiclass Queues

    Multistation and Single-Class Queues

    Multistation and Multiclass Queues

    Concluding Remarks

    Inventory Control, F. Azadivar and A. Rangarajan

    Introduction

    Design of Inventory Systems

    Deterministic Inventory Systems

    Stochastic Inventory Systems

    Inventory Control at Multiple Locations

    Inventory Management in Practice

    Conclusions

    Current and Future Research

    Complexity and Large-Scale Networks, H. P. Thadakamalla, S. R.T. Kumara, and R. Albert

    Introduction

    Statistical Properties of Complex Networks

    Modeling of Complex Networks

    Why “Complex” Networks

    Optimization in Complex Networks

    Conclusions

    Simulation, C. M. Harmonosky

    Introduction

    Basics of Simulation

    Simulation Languages and Software

    Simulation Projects—The Bigger Picture

    Summary

    Metaheuristics for Discrete Optimization Problems, R.K. Kincaid

    Mathematical Framework for Single Solution Metaheuristics

    Network Location Problems

    Multistart Local Search

    Simulated Annealing

    Plain Vanilla Tabu Search

    Active Structural Acoustic Control (ASAC)

    Nature Reserve Site Selection

    Damper Placement in Flexible Truss Structures

    Reactive Tabu Search

    Discussion

    Robust Optimization, H. J. Greenberg and T. Morrison

    Introduction

    Classical Models

    Robust Optimization Models

    More Applications

    Summary

    II OR/MS Applications

    Project Management, A. B. Badiru

    Introduction

    Critical Path Method

    PERT Network Analysis

    Statistical Analysis of Project Duration

    Precedence Diagramming Method

    Software Tools for Project Management

    Conclusion

    Quality Control, Q. Feng and K. C. Kapur

    Introduction

    Quality Control and Product Life Cycle

    New Trends and Relationship to Six Sigma

    Statistical Process Control

    Process Capability Studies

    Advanced Control Charts

    16.7 Limitations of Acceptance Sampling

    16.8 Conclusions

    Reliability, L. M. Leemis

    Introduction

    Reliability in System Design

    Lifetime Distributions

    Parametric Models

    Parameter Estimation in Survival Analysis

    Nonparametric Methods

    Assessing Model Adequacy

    Summary

    Production Systems,

    B. L. Foote and K. G. Murty

    Production Planning Problem

    Demand Forecasting

    Models for Production Layout Design

    Scheduling of Production and Service Systems

    Energy Systems, C. R. Hudson and A. B. Badiru

    Introduction

    Definition of Energy

    Harnessing Natural Energy

    Mathematical Modeling of Energy Systems

    Linear Programming Model of Energy Resource Combination

    Integer Programming Model for Energy Investment Options

    Simulation and Optimization of Distributed Energy Systems

    Point-of-Use Energy Generation

    Modeling of CHP Systems

    Economic Optimization Methods

    Design of a Model for Optimization of CHP System Capacities

    Capacity Optimization

    Implementation of the Computer Model

    Other Scenarios

    Airline Optimization, J. L. Snowdon and G. Paleologo

    Introduction

    Schedule Planning

    Revenue Management

    Aircraft Load Planning

    Future Research Directions and Conclusions

    Financial Engineering, A. R. Heching and A. J. King

    Introduction

    Return

    Estimating an Asset’s Mean and Variance

    Diversification

    Efficient Frontier

    Utility Analysis

    Black–Litterman Asset Allocation Model

    Risk Management

    Options

    Valuing Options

    Dynamic Programming

    Pricing American Options Using Dynamic Programming

    Comparison of Monte Carlo Simulation and Dynamic Programming

    Multi-Period Asset Liability Management

    Conclusions

    Supply Chain Management, D. P. Warsing

    Introduction

    Managing Inventories in the Supply Chain

    Managing Transportation in the Supply Chain

    Managing Locations in the Supply Chain

    Managing Dyads in the Supply Chain

    Discussion and Conclusions

    E-Commerce, S. Sadagopan

    Introduction

    Evolution of E-Commerce

    OR/MS and E-Commerce

    OR Applications in E-Commerce

    Tools–Applications Matrix

    Way Forward

    Summary

    Water Resources, G.V. Loganathan

    Introduction

    Optimal Operating Policy for Reservoir Systems

    Water Distribution Systems Optimization

    Preferences in Choosing Domestic Plumbing Materials

    Stormwater Management

    Groundwater Management

    Summary

    Military Applications, J. D. Weir and M. U. Thomas

    Introduction

    Background on Military OR

    Current Military Applications of OR

    Concluding Remarks

    Future of OR/MS Applications: A Practitioner’s Perspective, P. Balasubramanian

    Past as a Guide to the Future

    Impact of the Internet

    Emerging Opportunities Index

    About the Series

    Operations Research Series

    Learn more…

    Subject Categories

    BISAC Subject Codes/Headings:
    BUS049000
    BUSINESS & ECONOMICS / Operations Research
    TEC009000
    TECHNOLOGY & ENGINEERING / Engineering (General)
    TEC009060
    TECHNOLOGY & ENGINEERING / Industrial Engineering
    TEC029000
    TECHNOLOGY & ENGINEERING / Operations Research