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

lp-model and markov decision problem, The supply of a certain good is insp...

The supply of a certain good is inspected periodically. If an order is placed of size x >0 (integer), the ordering costs are 8+2. x. The delivery time is zero. The demand is stoc

Operating system, represent a diagrammatic way of components of the os

represent a diagrammatic way of components of the os

REGRESSION, regression line drawn as Y=C+1075x, when x was 2, and y was 239...

regression line drawn as Y=C+1075x, when x was 2, and y was 239, given that y intercept was 11. calculate the residual

Dynamic programming models, Dynamic programming may be considered thoutgr...

Dynamic programming may be considered thoutgrowth of mathematical programming and involves the optimization of multistage( sequence of inter related decisions) decision process

Linear programming model, Nass food produces to kinds of popular dark choco...

Nass food produces to kinds of popular dark chocolate bars. The banana and the coffee.the

Process, process of operation research

process of operation research

Model, disadvantages of model in operational research

disadvantages of model in operational research

Linear programming , Solve the following Linear Programming Problem using S...

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

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