BA 353: Operations Management - Fort Lewis College
BA 353: Operations Management Week 1
Intro – class, OM
In Class Exercise 1
Start Decision Analysis
• Welcome!
• Syllabus
o Textbook discussion.
o Overview
o Technology
• Roll call
Chapter 1
OM: Activities ( Goods and Services (spectrum)
Ex Sell 10k products at $50 each. Cost $40 to produce and transport.
• Price ^ to $55? Demand?
• Cost decreases to $39? Demand? Percentages – cost down 2.5%, profit up 10%.
Ten OM Decisions:
A: United (or most other) Airlines – which three are most important?
B: Inventory – better to have high or low?
C: DMR – season pass versus daily? Why? How?
Start ICE 1
Decision Analysis: Making good decisions with an uncertain future.
Discuss photo.
Six Steps:
1. Define Problem
2. Objective(s)
3. Model
4. Evaluate
5. Choose
6. Implement
Ex: AA → Durango
• Do Nothing, Limited Schedule, Full Schedule: These are Decision Alternatives
• States of Nature: Demand will be low, medium, high.
Set up problem A), class solves for EV.
Do B), EVPI, MMR, solve on MS Excel
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