Description

For undergraduate courses in Management Science.

A logical, step-by-step approach to complex problem-solving

Using simple, straightforward examples to present complex mathematical concepts, Introduction to Management Science gives students a strong foundation in how to logically approach decision-making problems. Sample problems are used liberally throughout the text to facilitate the learning process and demonstrate different quantitative techniques. Management Science presents modeling techniques that are used extensively in the business world and provides a useful framework for problem-solving that students can apply in the workplace.

The Twelfth Edition focuses on the latest technological advances used by businesses and organizations for solving problems and leverages the latest versions of Excel 2013, Excel QM, TreePlan, Crystal Ball, Microsoft Project 2010, and QM for Windows.

Features

• NEW! Companion Website - Several of the strictly mathematical topics – such as the simplex and transportation solution methods – are included as chapter modules on the Companion Website, at www.pearsonhighered.com/taylor.
• REVISED! Text Organization - The 12^th edition features well-organized text that flows smoothly and follows a logical progression of topics, placing the different management science modeling techniques in their proper perspective. The first 10 chapters are related to mathematical programming that can be solved using Excel spreadsheets, including linear, integer, nonlinear, and goal programming, as well as network techniques.
• REVISED! Chapter Web Links - Updated for every chapter, more than 550 Web links are provided to access tutorials, summaries, and notes available on the Internet for the various topics in the chapters. Also included are links to YouTube videos that provide additional learning resources.
• NEW! Sections on Business Analytics (Chapter 1), Project Risk (Chapter 8), and Data Mining (Chapter 15) have been added to this edition.
• NEW! Problems and Cases - A substantial number of homework questions, problems, and cases are offered for students to practice. The 12^th edition includes more than 840 homework problems, 45 of which are new, and 69 end-of-chapter cases, 5 of which are new.
• REVISED! Management Science Application Boxes - These boxes are located in every chapter in the text and describe how a company, an organization, or an agency uses the particular management science technique being presented and demonstrated in the chapter to compete in a global environment. Over 35% of the “Management Science Application” boxes are new for the 12^th edition.
• Marginal Notes - Notes in the margins of this text highlight certain topics to make it easier for students to locate them, summarize topics and important points, and provide brief definitions of key terms and concepts.

Facilitates problem-solving using the latest software tools

• REVISED! 800-plus Excel homework files on the Instructor’s Website have been replaced with new Excel 2013 files.
• Spreadsheet solutions are demonstrated in all of the chapters in the text (except for Chapter 2, on linear programming modeling and graphical solution) for virtually every management science modeling technique presented. These spreadsheet solutions are presented in optional subsections, allowing the instructor to decide whether to cover them.
• NEW! More than 140 new Excel spreadsheet screenshots for Excel 2013 are included in this edition. Most of these screenshots include reference callout boxes that describe the solution steps within the spreadsheet. Files that include all the Excel spreadsheet model solutions for the examples in the text (data files) are included on the Companion Website and can be easily downloaded by the student to determine how the spreadsheet was set up and the solution derived, and to use as templates to work homework problems.
• Excel QM Add-Ins provide a generic spreadsheet setup with easy-to-use dialog boxes and all of the formulas already typed in for specific problem types. Unlike other “black box” software, these add-ins allow users to see the formulas used in each cell. The input, results, and the graphics are easily seen and can be easily changed, making this software ideal for classroom demonstrations and student explorations.
• Risk Solver Platform for Education is a programming tool for risk analysis, simulation, and optimization in Excel. The Companion Website &nbs

New to this Edition

• Companion Website - Several of the strictly mathematical topics – such as the simplex and transportation solution methods – are included as chapter modules on the Companion Website, at www.pearsonhighered.com/taylor.
• Sections on Business Analytics (Chapter 1), Project Risk (Chapter 8), and Data Mining (Chapter 15) have been added to this edition.
• Problems and Cases - A substantial number of homework questions, problems, and cases are offered for students to practice. The 12^thedition includes more than 840 homework problems, 45 of which are new, and 69 end-of-chapter cases, 5 of which are new.
• More than 140 new Excel spreadsheet screenshots for Excel 2013 are included in this edition. Most of these screenshots include reference callout boxes that describe the solution steps within the spreadsheet. Files that include all the Excel spreadsheet model solutions for the examples in the text (data files) are included on the Companion Website and can be easily downloaded by the student to determine how the spreadsheet was set up and the solution derived, and to use as templates to work homework problems.

Table of Contents

Preface 

1. Management Science
2. Linear Programming: Model Formulation and Graphical Solution
3. Linear Programming: Computer Solution and Sensitivity Analysis
4. Linear Programming: Modeling Examples
5. Integer Programming
6. Transportation, Transshipment, and Assignment Problems
7. Network Flow Models
8. Project Management
9. Multicriteria Decision Making
10. Nonlinear Programming
11. Probability and Statistics
12. Decision Analysis
13. Queuing Analysis
14. Simulation
15. Forecasting
16. Inventory Management

Appendix A: Normal and Chi-Square Tables

Appendix B: Setting Up and Editing a Spreadsheet Site Modules

Appendix C: The Poisson and Exponential Distributions

 

Solutions to Selected Odd-Numbered Problems

Glossary

Index

 

The following items can be found on the Companion Website that accompanies this text:

Website Modules

• Module A: The Simplex Solution Method
• Module B: Transportation and Assignment Solution Methods
• Module C: Integer Programming: The Branch and Bound Method
• Module D: Nonlinear Programming Solution Techniques
• Module E: Game Theory
• Module F: Markov Analysis