Courses Catalogue

Quantitative Methods

COURSE CODE: ST 1201
COURSE CREDIT UNIT: 0
ACADEMIC PROGRAMME: Supplies and Procurement Management, B.Sc
COLLEGE/SCHOOL/FACULTY: College of Economics and Management
STATUS: Core
PROGRAMME TYPE: Undergraduate

Course Description

PURPOSE OF COURSE

The course introduces students to a number of quantitative models proven effective in solving certain classes of managerial problems. The course examines quantitative tools used to model various representative sample problems encountered in the conduct of business. The tools to be surveyed included linear programming, network programming and analysis, inventory control models, stochastic process, decision theory, queuing theory, simulation, decision support systems and project management techniques. Students are helped to learn the strength and weaknesses of various applications and limitations of models presented.

EXPECTED LEARNING OUTCOMES

By the end of the course unit, students should be able to:

  • Explain how to utilize the limited resources to maximize profits since most techniques are problem solving
  • Describe and explain situations where the resources are limited and be able to integrate demand and supply
  • Explain the important managerial and independent decisions.
  • Describe  various economic indexes that can be useful in solving problems
  • Discuss the role of quantitative methods in the business world toady and the validity of these techniques.