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Lecturer(s)
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Munzarová Simona, Ing. Ph.D.
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Course content
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Week 1: Mathematical modeling of managerial decision-making problems. Formulation, solution and implementation of the models. Modeling in MS Excel. Week 2: Input - Output Models on a business level. Week 3: Linear programming, basic model of linear programming, graphical solution, solution using Solver tool in MS Excel. Duality in Linear Programming Models, Solution Sensitivity Analysis. Week 4: Special problems of linear programming, integer programming and 0-1 models, Capital Budgeting Problem, assigning problems. Week 5: Transportation problem. Week 6: Queue models, single and multi-channel systems, economic optimization. Week 7: Inventory optimization. Deterministic inventory models, optimal order size, optimal production batch size. Week 8: Stochastic inventory models, insurance stock, optimal size of a single order. Week 9: Replacement models. Optimal cycle of device replacement, models of failing units. Week 10: Multicriteria decision making problems, decision making under uncertainty and risk, decision trees, basic principles of game theory. Case study - use of multicriteria decision making methods. Week 11: Models for project management. Project planning using CPM and PERT methods. Week 12: Gant chart, resource and cost analysis in the project network graphs. Week 13: Simulation in models of managerial decision problems. Presentation of students' seminar papers.
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Learning activities and teaching methods
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Monologic (reading, lecture, briefing), Dialogic (discussion, interview, brainstorming), Work with text (with textbook, with book), Methods of individual activities, Stimulating activities (simulation, games, drama)
- Contact teaching
- 78 hours per semester
- Preparation for a partial test
- 32 hours per semester
- Preparation for an exam
- 32 hours per semester
- Term paper
- 16 hours per semester
- Preparation of a presentation (report)
- 4 hours per semester
- Home preparation for classes
- 18 hours per semester
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Learning outcomes
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The aim of the course is to prepare students for solving more complex managerial decision-making problems using basic and advanced quantitative methods and mathematical models.
Students will acquire the ability to formulate managerial decision-making problems as mathematical models, to choose appropriate methods of their solution, to look for optimal resp. effective solution using MS Excel and interpret the obtained solution including sensitivity analysis.
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Prerequisites
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The prerequisite for the study of the subject is knowledge of mathematics, business economics and business management at bachelor level and the ability to work in MS Excel.
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Assessment methods and criteria
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Oral examination, Written examination, Home assignment evaluation, Self project defence
The level of acquired knowledge and application skills is examined. Knowledge and skills are verified by: oral examination, 2 written tests, solving given assessments at seminars, processing of 2 seminar papers, presentation of the second seminar paper.
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Recommended literature
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Anderson, D. R. Quantitative Methods for Business. 12. vyd.. S.l.: South-Western/Cengage Learning, 2013. ISBN 978-1-133-58446-9.
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Gros, I. Matematické modely pro manažerské rozhodování. Praha: Vydavatelství VŠCHT, 2009. ISBN 978-80-7080-709-5.
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Jablonský, J. Operační výzkum: kvantitativní modely pro ekonomické rozhodování. 3. vyd.. Praha: Professional Publishing, 2007. ISBN 978-80-86946-44-3.
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Munzarová, S. , Machač O. Manažerské kvantitativní metody. Učební text dostupný v systému STAG. Univerzita Pardubice. 2017.
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Munzarová, S., Machač, O., Paták, M. Sbírka příkladů k předmětu Manažerské kvantitativní metody. Materiál dostupný v systému STAG.. 2017.
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Munzarová, S. Manažerské kvantitativní metody. PPT prezentace dostupné v systému STAG. Univerzita Pardubice. 2017.
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Powell, S. G., Baker, K. R. Management Science: The Art of Modeling with Spreadsheets. 4. vyd.. Hoboken: John Wiley, 2014. ISBN 978-1-118-58269-5.
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Ravindran, A. R. Operation research and management science handbook. Boca Raton: CRC Press/Taylor& Francis, 2008. ISBN 978-0-8493-9721-9.
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