Operation research and decision making, Operation Research

Assignment Help:

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.


Related Discussions:- Operation research and decision making

process technolgy, 1 strategic implication of product and process decision...

1 strategic implication of product and process decisions 2 process planning and design 3 work measurement

Decision making - operation research, Decision making is not only the h...

Decision making is not only the headache of management rather all of us make decisions. We daily decide about minor issues. The essential characteristics of all decisions

Operation research, A PAPER MILL PRODUCES TWO GRADES OF PAPER VIZ., X AND Y...

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

MBA, #q.2 Q.2 Six Operators are to be assigned to five jobs with the cost o...

#q.2 Q.2 Six Operators are to be assigned to five jobs with the cost of assignment in Rs. given in the matrix below. Determine the optimal assignment. Which operator will have no a

Explain the process of problem identification with an exampl, Question ...

Question 1 Explain the process of problem identification with an example 2 Interview method involves a dialogue among the Interviewee and the Interviewer. Describe the inter

Linear progaming, #questA paper mill produces two grades of paper viz., X a...

#questA 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 p

Line balancing, what happen if line balancing does not exist

what happen if line balancing does not exist

Linear programming problem, #Solve the following Linear Programming Problem...

#Solve the following Linear Programming Problem using Simplex method. Maximize Z= 3x1 + 2X2 Subject to the constraints: X1+ X2 = 4 X1 - X2 = 2 X1, X2 = 0

A paper mill produces, . A paper mill produces two grades of paper viz., X ...

. 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

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd