This assignment requires applying quantitative techniques discussed in this course in a real company based in SINGAPORE.
Choose any of the suggested topics below:
1) Linear programming
2) Sensitivity analysis
3) Network models
4) Integer programming
5) Project management
6) Waiting line models
8) Decision Theory
Please work on any topics discussed above but you need to address the following areas when writing the report:
Required to apply your knowledge on optimisation in real and practical environment. For doing so you need to find a real company and then decide what technique you are going to apply in the company based on their issues. Having an initial discussion with the company will help you choose the appropriate technique. PROVIDE BACKGROUND INFORMATION of the company including size, business type, areas of operations, competitors etc.
You are required to PROVIDE DISCUSSION ABOUT THE CHOSEN TOPIC. For example, if you choose LP modeling in an manufacturing company you need to first explain 1) explain about LP modelling, 2) justify why you choose LP for the company and why not the other technique, 3) what are the advantage of LP compared to other methods.
Then you are required to COLLECT REAL DATA FOR THE CHOSEN TOPIC AND SHOW THE CURRENT STATUS OF THE COMPANY IN THE CHOSEN TOPIC. For example, if your topic is TRANSPORTATION, 1) discuss about the nodes, 2) cost of transportation per unit, 3) function for total transportation cost, 3) all the constraints, 4) complete mathematical model, 5) input and output data for Excel, 6) optimal solution etc.
After analyzing the current situation, you need to PROVIDE THE SOLUTION TO IMPROVE THE PERFORMANCE AND EFFICIENCY OF THE OPERATIONS IN THE COMPANY(e.g. How to reduce the total transportation cost). 1) Analyse the data explaining the process and where is the data coming from and what does it represent. 2) A clear step-by-step instruction that can be understood by an individual with no previous Excel experience.
SUGGESTED STRUCTURE OF THE REPORT:
1. Executive Summary
2. Table of content
3. List of Figures/Tables
4. Introduction <Company information, detailed background information of the company including size, business type, areas of operations, competitors etc
5. Identify the Problem and Choosing the Topic <Explain about the problem identified in the company. Explain about the assumptions. Detailed information about the chosen topic. Why is this topic chosen? Current status of the topic in the selected company.
6. Data Collection <The comprehensiveness of the data collected required for the project analysis. You are required to collect real data for the chosen topic.
7. Problem Formulation <Mathematical formulation of the objective functions and the constraints of the problem. Comprehensiveness of the mathematical model. Clear definition of variable, objective function. Explanation for each constraints, comprehensiveness and clarity of model formulation.
8. Problem Solving <Provide excel outputs with explanations and explain about the optimal solution. Clear explanation about all steps, calculations. Providing realistic scenarios, clarity, comprehensiveness and relevance of the solution.
9. Analysis and Discussion <Comparison between current status and the model proposed in this assignment based on the total cost, time, sale, or profit, etc.
10. Recommendation <Discussions on the areas that can be improved and based on the finding of the project.
*This is a REPORT ESSAY!!!*
Your work will be checked with the highest quality standard expectation.
Make sure to dedicate maximum attention to this assignment.