Operation research and decision making, Operation Research

Operations Research uses the methods of science to understand and explain the phenomena of operating systems. It devises the theories( models ) to explain these phenomena uses these theories to describe what takes under altered conditions and checks these predictions against new observations. Thus, " Operations Research is a tool employed to increase the effectiveness of managerial decisions as an objective supplement to the subjective feeling of the decisions maker."

For instance in distribution or allocation areas, O R may suggest teh best locations for agencies warehouses as well as the most economical kinds of transportation in marketing areas it may aid in indicating the most profitable type use and size of advertising campaigns in regard to available financial limit. O R may suggest alternative courses of action when a problems is analyzed and a solution is attempted. However the study of complex problems by O R techniques becomes useful only when a choice between two or more courses of action is possible.

O R may be regarded as a tool that enables the decision maker to be objective in creating alternatives and choosing an alternative which is best from among these.

Posted Date: 3/20/2013 3:54:01 AM | Location : United States

Related Discussions:- Operation research and decision making, Assignment Help, Ask Question on Operation research and decision making, Get Answer, Expert's Help, Operation research and decision making Discussions

Write discussion on Operation research and decision making
Your posts are moderated
Related Questions
Introduction to Probability Distribution By  theoretical distribution we mean  a frequency distribution  which  is obtained  in relation to a random  variable by some  mathem

A water chillier with a capacity of 30 TR cools 20 m 3 /hr. water entering at 12 o C what is the temp. of water leaving the chillier. A reversible engine has an ideal thermal ef

Operation reac Involves the use of mathematical models, equations and similar other mathematical expressions. Assumptions are always incorporated in the derivation of an equa

Reports: Report literature is an important primary source of information, particularly  for a research library. This new  medium for communication of information came into bei

Conclusions and Recommendations  Conclusions  should  be drawn with  direct  reference to the objectives  of the study. The  readers should  be able  to read the objectives. T

The scientific methods is thus based on certain basic postulate which can be stated as under: a. It relies on empirical evidence: b. It utilizes relevant concepts;

A paper mill produces two grades of paper viz., X and Y. Because of raw material restrictions, it cannot produce more than 400 tons of grade X paper and 300 tons of grade Y paper i

can u send me some assigment problems

A constraints in an LPP restricts? (Value of objective function,Value of decision variable,Use of available resources, uncertainty of optimum value) please help me to find out righ