<h3>MA6380 Stochastic methods in industry</h3>
<br/>
<h4>Course Details</h4>
Inventory and Stock Control: Practical stock systems, Various associated costs, Lead time- Type of Systems- Inventory Policies, Objective functions- Mathematical Methods of Inventory and applications.<br> Reliability Theory: Replacement and maintenance, discounting, Group replacements- System Reliability and availability- Simple Reliability models.<br> Quality Control: Acceptance sampling for attributes and for variables, operating Characteristic and average runlength; Single-Double and sequential plans, Control Charts- their construction and use.<br> Simulation: Simulation Concepts- Generation of uniform variates, generation of Variates fro Standard distributions; Monte Carlo Calculus and variance reduction techniques, Analogue simulation of systems.
<br/>
<h4>Course References:</h4>