Building intuition : insights from basic operations management models and principles

One of the primary purposes of any model is to build intuition and generate insights. Typically, a model is developed to be able to better understand phenomena that are otherwise difficult to comprehend. Models can also help in verifying the correctness of an intuition or judgment. In spite of the fact that many educators and practitioners recognize the intuition-building power of simple models, this is the first book in the field that uses the power of the basic models and principles to provide students and managers with an "intuitive understanding" of operations management.

Building Intuition: Insights From Basic Operations Management Models and Principles touches on nine fundamental models and principles, and outlines the key insights behind each one. To ensure that the volume is accurate, authoritative, accessible and well-written, the chapters are developed by leading experts in each chapter area and written with the students and managers in mind. The book's primary purpose is to motivate and to enable readers to develop insights with respect to a number of models that are central to the study and practice of operations management.

• Foreword p. ix
• Preface p. xi
• 1 Sequencing: The Shortest Processing Time Rule p. 1 Kenneth R. Baker
• 2 The Knapsack Problem p. 19 John J. Bartholdi, III
• 3 Flexibility Principles p. 33 Stephen C. Graves
• 4 Single Server Queueing Models p. 51 Wallace J. Hopp
• 5 Little's Law p. 81 John D.C. Little and Stephen C. Graves
• 6 The Median Principle p. 101 Timothy J. Lowe and Dilip Chhajed
• 7 The Newsvendor Problem p. 115 Evan L. Porteus
• 8 The Economic Order-Quantity (EOQ) Model p. 135 Leroy B. Schwarz
• 9 Risk Pooling p. 155 Matthew J. Sobel
• Index p. 175