PPT-Inventory Management III: Decision Making

This module discusses ordering costs time between orders inventory holding costs economic order quantity EOQ quantity discounts and production order quantity Authors Stu James and Robert . Why this approach & a Brief Overview using Caribbean Cay Conservation as an Example. CLCC Steering Committee Workshop. June 4, . 2015. El . Yunque. National Forest, Puerto Rico. Angela M. . Romito. © John Wiley & Sons Canada, Ltd.. Business Leadership: Management Fundamentals. John R. . Schermerhorn. , Jr. ., . Barry Wright, and Lorie Guest. Understand the role of . information in . the management process. Dr. . Y. İlker TOPCU. www.ilkertopcu.. net. . www.. ilkertopcu. .org. . www.. ilkertopcu. .. info. facebook.com/. yitopcu. . twitter.com/. yitopcu. instagram.com/. yitopcu. Dr. Özgür KABAK. DECISION MAKING . Dr. . . Y. İlker TOPCU. www.ilkertopcu.. net. . www.. ilkertopcu. .org. . www.. ilkertopcu. .. info. facebook.com/. yitopcu. . twitter.com/. yitopcu. instagram.com/. yitopcu. Prof. Dr. . . Y. İlker TOPCU. www.ilkertopcu.. net. . www.. ilkertopcu. .org. . www.. ilkertopcu. .. info. facebook.com/. yitopcu. . twitter.com/. yitopcu. instagram.com/. yitopcu. Credits: 3+0. SYSTEMS. Decision Support Software. Reasons for the growth of decision-making information systems. People need to analyze large amounts of information. People must make decisions quickly. People must apply sophisticated analysis techniques, such as modeling and forecasting, to make good decisions. Prof. Dr. . Y. İlker TOPCU. www.ilkertopcu.. net. . www.. ilkertopcu. .org. . www.. ilkertopcu. .. info. facebook.com/. yitopcu. . twitter.com/. yitopcu. instagram.com/. yitopcu. web.itu.edu.tr/. Decision . Making Styles. Planful. – A step-by-step process is used to identify alternatives and to choose one.. Painful – A lot of time and energy are spent, but a choice is not made.. Impulsive – A choice is made without adequately finding alternatives or collecting information about the self and alternatives.. Statin Choice Decision Aid Share-Decision Making SCIP Shared Decision Making Shared Decision Making Glasziou and Haynes ACP JC 2005 Promote a process where patients and clinicians make a choice together. Unstructured. : Decision maker must provide judgment, evaluation, and insight to solve . problem. Structured. : Repetitive and routine; involve definite procedure for handling so they do not have to be treated each time as . It is used in a variety of organizations to solve many different types of problems . It encompasses a logical mathematical approach to problem solving. Mathematical tools have been used for thousands of years. MAKING. . . . INTRODUCTION. Decision making is a key managerial responsibility. Decision making is a choice amongst alternatives. Steps involved:. Defining the problem. Setting the objectives. Collecting data. PLANNING: . Steps, Importance, Components. CO ORDINATION: . Importance. MANAGEMENT BY OBJECTIVES: . Advantages, MBE. MANAGEMENT INFORMATION SYSTEM: . Concept, Components. DECISION MAKING: . Techniques, Essentials, Impact Of Technology On Decision Making. . Important Models in the Study of O.R Models. 1.Linear Programming Model: This model is used for resource allocation when the resources are limited and there are number competing candidates for the use of resources. The model may be used to...