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Operation Research may be regarded as a tool which is utilized to increase the effectiveness of the management decisions. O R is objective supplement to the subjective feeling of the decision maker. Significance of Operations Research can be formulated as follows:
1. Better Control :The management of big business houses finds it much costly to provide continuous executive supervisions over routine decisions. An OR approach directs the executives to devote their attention to more important matters.
2. Better Coordination: OR has been very useful to make a clear cut picture out of a situation of chaos. For example OR based planning models because a methods of co ordination marketing decisions with the limitation imposed on manufacturing capabilities.
3. Better Systems :OR study is also initiated to analyze a particular problem of decision making such as establishing a new warehouse new transportation plan assigned retrenchment plans.
4. Better Decisions :OR models frequently yield actions that improve a common sense decision making. Sometimes a situation may be so complicated that a human mind cannot take appropriate decisions by taking into account all the factors relevant for decision making OR helps to do so.
simple Size When a survey is undertaken and it is not possible to cover the entire population, the marketing researcher has to answer a basic question - how large s
Festinger and Katz have described followings six steps in the conduct to a field study. a. Preliminary Planning :Deciding scope and objectives of study and the time table
how jaguar implements aggregate planning?
Scattered Responsibility and Authority: In a big industry responsibility and authority of decisions making is scattered throughout the organization and thus the organization.
is model the essence of oprational research.
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
applications of operation research
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
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It can be seen from the optimal solution for the foundry problem that two resources, raw material-1 and labor, are exhausted whereas the other two resources, raw materi
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