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Quantitative Methods in petroleum oil and gas business, industry and transportation

Learning Outcomes

Learning Outcomes
 
The aim of this course is to provide students with the mathematical skills that are needed for decision making in business administration. Emphasis is given in mathematical modeling of problems that appear in petroleum oil and gas businesses, industry and transportation. On successful completion of this module the learner will be able to apply the mathematical methods such as:

1.       optimization of functions of several variables,

2.       modeling  real life problems into linear models,

3.       the SIMPLEX method,

4.       the transportation Problem.

5.       the Assignment Problem

6.       Inventory Control

7.       Network optimization. Minimum path methods PERT, CPM.

8.       Apply software for all the above topics

 
  General Skills
 
   
 

•        collective work

•        decision making

·          Work in an international environment

 
  1. Course Contents
 

Linear programming. Modeling of real life problems, Graphical solution, Simplex method, Sensitivity Analysis.

The transportation problem. Initial solution with the northwest corner method, Vogel

method, minimum cost method. Optimal solution of the transportation problem. Non

balanced problems. Restricted roots.

The assignment problem. The Hungarian method.

Inventory Control Theory. Importance and scope of inventory control. Types of inventory.

Costs associated with inventory. Selective inventory control. Economic Order Quantity.

Inventory management systems.

Network Optimization. Graphs, diagrams and trees. Critical activities and paths. CPM, PERT

Methods.

Software for linear programming: MS Project, MS EXCEL, QSB, LINDO.

Case studies in petroleum oil and gas businesses, industry and transportation.

 

  1. Teaching Methods  – Assessment
Mode of Delivery

In class contact
USE OF INFORMATION AND COMMUNICATION TECHNOLOGY

 Dynamic powerpoint transparencies

Specialized software MS Project, MS EXCEL, QSB, LINDO.
TEACHING METHODS

 
Method description Semester Workload
Lectures 42
Projects -Case studies 60
Independe t Study  of student 85.5
Total of Course

(25 hours workload per credit unit)

 187,5
ASSESSMENT METHODS

 

 Ι. Written final examination (60%) comprising:

II Written essay  and presentation by Power Point (40%)
  1. Resources
Ψωινός Δ., Ποσοτική Ανάλυση, Εκδόσεις Ζήτη.

Ballou R.H. (2004) Business Logistics /Supply Chain Management. 5th Edition, Prentice Hall.

Chopra, S. and Meindl, P. (2012) Supply Chain Management: Strategy, Planning, and Operation. 5th Edition, Prentice Hall.

Κώστογλου Β., Επιχειρησιακή Έρευνα και Οργάνωση Συστημάτων Παραγωγής, Εκδόσεις Τζιόλα, 2016.

Αβδέλας Γ., Σίμος Θ., Εισαγωγή στην Επιχειρησιακή Έρευνα, Εκδόσεις Συμεών.

Σίσκος Γ., Γραμμικός Προγραμματισμός, Εκδόσεις Νέων Τεχνολογιών.

Υψηλάντης Π. Γ., Επιχειρησιακή έρευνα: Εφαρμογές στη σημερινή επιχείρηση, Εκδόσεις Προπομπός.

Κ. Παπαρρίζος, Γραμμικός Προγραμματισμός Αλγόριθμοι και Εφαρμογές, Εκδόσεις Ζυγός.

F.S. Hillier, G.J.Lieberman, Εισαγωγή στην Επιχειρησιακή Έρευνα, Εκδόσεις Παπαζήση (τόμοι Α,Β,Γ).