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

Linear programming problem, A paper mill products two grade of paper viz., ...

A paper mill products two grade of paper viz., X & Y. Because of raw material restriction, it cannot produce more than 400 tons of grade X paper & 300 tons of grade Y paper in a we

Simple random sampling - sampling decisions, Simple Random Sampling  ...

Simple Random Sampling  This  is  simplest  and most  popular  technique  of sampling. In it each  unit  of the  population has equal  chance  of being  included in the samp

LPP Sum, A paper mill produces two grades of paper viz., X and Y. Because o...

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

Assigment , b. A paper mill produces two grades of paper viz., X and Y. Bec...

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

Linear programing, Solve the following Linear Programming Problem using Sim...

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

Methods of survey and study, Methods of Survey and Study:   Some method...

Methods of Survey and Study:   Some methods of collecting information about the organisation and about the information requirement of potential users are mentioned below. No si

Usage in the context of library and information services, Usage in the Cont...

Usage in the Context of Library and Information Services: In library and information science, there is, however, no need for making such distinction between data and informati

Support - report writing presentation , Support Supporting materials  ...

Support Supporting materials  is vital for  making the presentation effective. It  clarifies the  speaker  ideas  makes  the presentation more  illuminating as well  as intere

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