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

Periodicals and serials - classification of documents, Periodicals and Seri...

Periodicals and Serials: Periodical publications form an important part of today's information world. It is one of the oft chosen forms of research communication. There are ov

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

Determine the weekly demand and lead time, Family Application specialises i...

Family Application specialises in selling major appliances for use in kitchen remodelling.  One of its more popular items is the SubZero refrigerator.  Over the past 40 weeks, the

Duality, Formulation of convert to primal method to dual in lpp

Formulation of convert to primal method to dual in lpp

Understandibg concepts, what are the preconceptions do you bring to the stu...

what are the preconceptions do you bring to the study of research

Construction procedure for research tool, CONSTRUCTION PROCEDURE The c...

CONSTRUCTION PROCEDURE The construction of an interview schedule or questionnaire is a time consuming task requiring considerable attention to all the details. The investig

Question, i need many good and important question of operation research obo...

i need many good and important question of operation research obout dinamic programing and non-liner programing and integer orograming ....for study! thank you

Performance analysis of video call using skype, Description      Skype i...

Description      Skype is currently the most popular VoIP software in the world. Existing research has indicated that Skype can provide better voice/video quality in adverse net

Maths, Maxz=3x1-2x2 St x1-x2 >_0, 3x1-x2 _0

Maxz=3x1-2x2 St x1-x2 >_0, 3x1-x2 _0

Linear programing, main components of a linear programming

main components of a linear programming

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