Scope of operations research, Operation Research

Assignment Help:

Scope of the OR techniques can be derived in followings various importance fields:

1. In Agriculture : With the explosion of population and consequent shortage of food OR is very useful in sorting out problems.

a. The problem of optimum allocation of land in various crops in accordance with the climatic conditions.

b. The problem of optimum distribution of water from various resources fertilizers new techniques and capabilities.

2. In Finance: In these modern times of economic crisis it has become very necessary for every government to have a careful planning using the OR techniques applied to

a. Maximize the per capita income with minimum resources.

b. Find out the profit plan for the company.

c. Determine the best replacement policies.

3. In Industry: If the industry manager decides his polities only on the basis of his past experiences he may not lead the organization in a positive manner and the organization will suffer heavy losses. These losses can be compensated by suing OR techniques in business management which formulates total production schedule optimum utilization of resources available.

4. In Marketing : With the help of OR techniques a marketing manager can decide.

a. Where to distribute the product sale so that the total carriage inwards and outwards cost will be minimized.

b. Minimum per unit sale price.

c. Size of the stock to meet the future demand.

d. Selection of advertising media with respect to time cost efforts results etc.

e. Purchasing criteria at minimum possible cost.

5. In Personnel management: A Personnel manager can use OR techniques

a. To appoint the most suitable persons on appropriate salary.

b. To determine the best age of retirement.

c. To find out the number of persons to be appointed on full time basis depending upon the nature of the work load.

6. In Production Management: A production manager can use OR Techniques.

a. To find the number and the size of the items to be produced.

b. In scheduling g and sequencing the production run y proper allocation of machines.

c. In calculating the optimum product mix.

d. To select locate and design production plans.

7. In Insurance Sector: OR approach is also applicable in insurance sector to decide.

a. What should be the premium rates for various modes of policies,

b. How best the profits could be distributed in the case of profits generation.


Related Discussions:- Scope of operations research

Analyse the average number and mean number, Consider the closed network of ...

Consider the closed network of the following figure. The number at the arrows give the transition probabilities for a customer leaving the queue to route to a subsequent queue. Eve

#transportation and linear models.., #what is the similarity and difference...

#what is the similarity and differences between transportation and linear programing models?

Linear programming, b. A paper mill produces two grades of paper viz., X an...

b. 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 pape

Assumption for students test , Assumption for  students Test a.The p...

Assumption for  students Test a.The parent population from  which the samples is  drawn in normal. b.The sample observations  are random  i ,e the given  sample is  drawn

Scope and concept, Explian scope and concept of Operations research?

Explian scope and concept of Operations research?

Line balancing, what happen if line balancing does not exist

what happen if line balancing does not exist

Sampling techniques, discuss and explain both probability and non probabili...

discuss and explain both probability and non probability sampling techniques.

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