At the end of the module a student:
- is able to formulate LP- and ILP-models for appropriate problems;
- can apply (simple) quantitative techniques for inventory optimization in case demand is deterministic as well as stochastic and can repeat proofs and derivations discussed in the study material on inventory control;
- is able to model an appropriate problem as a queuing model and to calculate relevant performance indicators like average queue length, and average waiting and sojourn time;
- understands the idea behind dynamic programming and can model simple appropriate problems as DP models and solve these.
In this study unit a number of well-known and often used OR methods are discussed. We pay attention to LP, ILP, and DP models, simple inventory management models and we give an introduction on queuing models.