Demonstrate a conceptual understanding of modelling

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Reference no: EM133589819 , Length: word count:2500

Management Science Modelling

Question 1

Conduct a brief literature review of recent academic literature where optimisation modelling is applied to a specific area of your choice within a supply chain (or business) operation. Based on your review, provide critical insights and future research directions. (~1000 words)

Question 2
A manufacturing companyowns three (3) manufacturing facilities (factories). These factories distribute three (3) products to their key customers (5retailers) directly as well as through four (4) warehouses.
Formulate and solve a linear programming model for the data set (given in a separate Excel file) to produce the optimal distribution cost of the product.Provide a critical evaluation of the model and the results obtained. (~1000 words)

Question 3
Develop your optimisation model further by incorporating additional constraint of carbon tax on transportation of products and find the new optimal solution. Explain your approach. Assume data logically, where required.(~500 words)

Task specific guidance:

Question 1
You shouldselect approximately 8 to 10 research papers, from academic journals,published in the last five years. You may also select a particular type of optimisation for the review. It is expected that the answer should address the question directly i.e. critically reviewing the literature rather than providing definition and importance of optimisation. Avoid generic/descriptivestatements to answer the question.

Question 2
A mathematical model is required in this case. Explain the way in which the mathematical model is developed and implemented using a dedicated computer software (Excel). This model can be presented in relation to the transhipment model. Clear identification of variables, objective function and constrains are expected in this case. It is useful to paste Excel snapshots to your report.

Critical insights on your developed model and a dedicated discussion on the results obtained are expected in this case. The results refer to the final delivery cost, delivery plan and meeting the required constraints. The discussion should incorporate sensitivity analysis. It is useful to paste Excel snapshots to your report.

Question 3
Explain your approach on how you have incorporated the carbon tax constraint and briefly discuss the new optimal solution obtained.

Aim to meet the overall word count. The word count does not include table of contents, abstract, pictures (screenshots), tables,list of references and appendices.

The assignment should be written in report format. Section headings may be added.You are also required to submit the Excel solution file along with your report (Word document).

On completion of this module, students will need to demonstrate:

1. Demonstrate a conceptual understanding of modelling and systems theories, principles of developing a business-related model and practices of management science modelling techniques using data.
2. Critically evaluate merits and drawbacks of different analytical approaches to modelling business systems
3. Formulate, verify and validate an appropriate modelling and optimisation methodology for the interrogation and utilisation of data in management science modelling.
4. Communicate analytical findings appropriately and
5. Utilise a range of software and datasets to develop and operationalise an appropriate methodology for the investigation of a problem in the field of management science modelling.

Reference no: EM133589819

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