Stochastic Models for Production and Service Systems

3 units

The first half of the course will focus on stochastic processes course with an emphasis on queueing (especially as applied to operations models) and probabilistic reasoning. The approach will be non-measure theoretic but otherwise rigorous. Students are assumed to already have a working knowledge of probability and stochastic processes. The course will contain a sampling of some of the most important stochastic proof techniques for operations. Specific topics include Markov chain analysis, queueing theory, sample path arguments, and limit theorems. The second half of the course will focus on the application of stochastic processes and equilibrium analysis to service operations systems. Classical models covered from the textbook will be studied. Topics include observable queues, unobservable queues, and competition among servers. Students will also be exposed to recent research development by reading and presenting research papers on these topics.