Optimization for Business

Start Date: Jan 23, 2023 End Date: Jan 28, 2023
Last Date for Application: January 9, 2023 Last Date for Early Bird: January 2, 2023
Programme Fee: 150000 INR

Plus, GST

Early Bird Fee: 139500 INR

Plus, GST

Pay Now

There are ample well-documented business cases that highlight tremendous savings possible by adopting a formal, mathematical, decision-making process. The logistics division of a firm, for example, which generally absorbs 60-80% of its revenue, provides a huge opportunity for improving the profitability of a firm through such structured decision making. “Optimization for Business” is a 6-day intense programme, designed to equip the participants with the essential skills required for modelling their complex business problems, through exposure to a variety of real-world problems, which can be understood and solved by a computer.

 

For more information or any questions, contact Sanjay Darshan: sanjay-exed@iima.ac.in | +91 70690 74809

 

Live Webinar

 

Join us for the Live Webinar with Prof. Sachin Jayaswal, Faculty Chair, Optimization for Business and get insights about this immersive programme. You can also find answers to your specific questions about the programme, course topics, key takeaways and more.

 

Friday | December 16, 2022 | 4:00 p.m. – 5:00 p.m.

 

The programme aims to fulfil the following objectives:

  • To provide an understanding of the existing opportunities to improve efficiency in a firm’s activities through scientific decision making.
  • To provide the skills required to translate real-world business problems into mathematical models, and to solve them on a computer.
  • To provide training in the use of a Mathematical Modelling Language for expressing mathematical models and solving complex real-world problems.
  • To introduce the participants to data-driven optimization, which is extremely relevant in the current context where data and optimization work together for prescriptive analytics.
  • Modelling Skills: Linear Programming, Integer Programming, Non-linear Programming, Goal Programming
  • Methods: Branch & Bound Method, Heuristics
  • Software Tools: Excel Solver, AMPL, Cplex, Python
  • Application Areas: Manufacturing, e-commerce, Logistics, Telecommunications
  • Problems: Transportation, Vehicle Routing, Revenue Management, Facility Location, Vendor Selection, Project Management, Scheduling, Crew Rostering, Product Line selection, Credit Scoring, Data-driven optimization

The course will use a mix of pedagogies including case discussions, mathematical modelling exercises and assignments, lab sessions on the optimization software (AMPL, Python, Cplex), lectures, presentations, etc. to deliver the programme content.

The programme is intended for mid-level professionals with some quantitative background, currently in or aiming for a role of Operations Manager/Logistics manager/Supply Chain Manager/OR Scientist. It is best suited to candidates with a minimum 2 years of work experience in operations/logistics/supply chain, preferably with a bachelor’s degree in Engineering/Science or a master’s degree in operations management/supply chain management with some exposure to computer programming. The programme requires strong analytical bent of mind and very sound logical reasoning skills. Candidates with exceptional academic background aiming for such roles in their career but with no prior experience may also be considered. Selection for the programme will be based on academic and professional achievements and the promise of having a strong impact on the organisation.



menu