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

Explain briefly the term sensitivity analysis, Question: (a) A company...

Question: (a) A company sells three different products X, Y and Z. The company makes a profit of Rs. 35, Rs. 50 and Rs. 60 per unit on products X, Y and Z respectively. The th

LPP, USE SIMPLE METHOD TO SOLVE THE FOLLOWING LPP MAXIMISE Z=4X1+10X2 SUBJE...

USE SIMPLE METHOD TO SOLVE THE FOLLOWING LPP MAXIMISE Z=4X1+10X2 SUBJECT TO CONSTRAINS, 2X1+X2 2X1+5X2 2X1+3X2 X1, X2>0

OR, What is the role of decision making in OR

What is the role of decision making in OR

TRANSPORATION PROBLEM, sOLVE THE FOLLOWING D1 D2 D3 SUPPLY s1 2...

sOLVE THE FOLLOWING D1 D2 D3 SUPPLY s1 2 2 3 10 s2 4 1 2 15 s3 1 3 1 40 Demand 20 15 30

Why the dual formulation?, Dual formulation is done for a number of r...

Dual formulation is done for a number of reasons. The solution to a Dual problem provides all essential information about the solution to the Primal problem. A so

Scope, Scope of operation research?

Scope of operation research?

Census method, Census Methods Complete Enumeration: If detail informat...

Census Methods Complete Enumeration: If detail information  regarding every individual  person  or item of a given   universe ( or  population ) is  collected then the  enquir

Rules regarding the table structure, Rules  Regarding the Table  Structur...

Rules  Regarding the Table  Structure a. Table Number: When a number  of tables  are constructed serial number of the tables  should  be given  to each table. b. Title Th

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