After reading this article you will learn about:- 1. History of Operations Research 2. Definition and Concept of Operations Research 3. Methodology 4. Applications. History of Operations Research: Historically, the term Operations Research originated during Second World War when U.S.A. and Great Britain's Armed Forces sought the assistance of Scientists to solve complex and very difficult strategical and tactical problems [...]
Various techniques used in Operations Research to solve optimisation problems are as follows: 1. Linear Programming 2. Waiting Line or Queuing Theory 3. Goal Programming 4. Sensitivity Analysis 5. Dynamic Programming 6. Nonlinear Programming. Technique # 1. Linear Programming: Linear programming is one of the classical Operations Research techniques. It had its early use for military applications but presently it [...]
Decision making has following distinct phases:- 1. Defining the Problem 2. Analysing the Problem 3. Developing Alternative Solutions 4. Deciding upon the Best Solution 5. Making the Decision Effective 6. Implementing and Verifying the Decision. Step # 1. Defining the Problem: Management may see a clash of personalities; the real problem may well be poor organization structure. Management may see [...]