All sectors of the modern economy rely on fundamental quantitative tools for analysis, prediction, and optimization, to leverage data for the purposes of improving decision making. These tools allow companies and not-for-profit organizations to do more with limited resources. This gives businesses competitive advantages in the marketplace by lowering cost, increasing profits margins, and improving customer satisfaction.
This area includes:
Manufacturing and Service Systems: Designing better products and services by creating more efficient and effective processes that increase customer satisfaction and improve profit margins for businesses and not-for-profit organizations.
Supply Chain Management: Optimizing the efficiency of global supply chains to make them robust to disruptions by managing production, distribution logistics, and inventory control to guarantee a reliable supply of goods at affordable prices to customers.
Scheduling Processes: Improving processes for resource allocation to improve the flow of materials and people in manufacturing and service systems to increase efficiencies and improve the quality of the customer experience.