Introduction to operations research
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This document provides an introduction to operations research. It begins by defining operations research as a scientific approach to solving management problems through the application of analytical methods. This allows managers to make better decisions. The document then discusses the history and origins of operations research, noting that it emerged from efforts during World War II to apply analytical techniques to military problems. It provides examples of the scope and techniques of operations research, including linear programming, queuing theory, and decision theory. The document outlines the typical phases of an operations research project as judgment, research, and action. It concludes by discussing some advantages and limitations of operations research.
Introduction to operations research
- 1. Introduction to Operations Research Prepared by: Jessica E. Laran
- 2. Hello! I am Jess 2
- 3. Operational Research is a discipline of applying appropriate analytical methods which will help managers in solving problems and making better decisions. is a scientific approach to management problems with respect to product mix, inventory fluctuations, and shipment of goods to various warehouses usually under conditions requiring the allocation of limited resources. Is often used interchangeably with the terms -Decision Science -Management Science -System Analysis -System Science -Quantitative Analysis 3
- 4. “ The science of better 4
- 6. History of Operations Research Operational Research originated by the efforts of military planner during World War II 6 Find more maps at slidescarnival.com/extra-free-resources-icons-and-maps The analytical study of military problems was undertaken to provide scientific basis for decisions to improve military operations. In the decade after World War-II the techniques began to be applied more widely in problems of business, industries and societies. Operational Research has been existed as a science since 1930‘s.
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- 13. The scope of OR is not only confined to any specific agency like defense services but today it is widely used in all industrial organizations. It can be used to find the best solution to any problem be it simple or complex. It is useful in every field of human activities. 13 The main fields: 1. National Planning and Budgeting 2. Defense Services 3. Industrial Establishment and Private Sector Units 4. R & D and Engineering
- 15. Features of Operations Research 1 Decision Making Scientific Approach 2 Inter-Disciplinary Team Approach 3 Human Factors 7 6 Objectives Use of Computers 5 System Approach 4
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- 19. Judgment Phase Determination of the problem Establishment of the objectives and values Determination of suitable measures of effectiveness 19 1
- 20. Observation and data collection Formulation of hypothesis and models Observation and experimentation to test the hypothesis Prediction of various results, generalizations, consideration of alternative method 20 2 Research Phase
- 21. Implementation of the tested results of the model 21 3 Action Phase
- 24. Technique & Tools OPERATIONS RESEARCH 24
- 25. Technique and Tools Linear Programming It is used to find a solution for optimising a given objective. Queuing Theory Deals with the situations in which queue is formed. Sequencing To find a sequence for Processing Jobs so that the total elapsed time for all the jobs will be minimum. Transportation Problems To schedule shipment from sources to destinations in such a way so as to minimize the total transportation cost.. Integer Problems A series of continuous linear programming problem are solved in such a way that the solution containing unacceptable non-integer value are ruled out and the best higher is obtained. Assignment Problems It deals in allocating the various resources or items to various activities in a one to one basis.
- 26. Technique and Tools Decision Theory and Games Theory Assist the Decision-Maker analyzing problems with numerous alternative course of actions and consequences. Replacement Problems Is concerned with situations that arise when some items requires replacement due to their decreasing effeciency, failure or break-down. Symbolic Logic Business Problems are not commonly converted into symbols but calculations are done on computers, that is why symbols have extensive applications. 26
- 30. 30 ADVANTAGES LIMITATIONS Better Control Dependence on an Electronic Better System Non-Quantifiable Factors Better Decisions Money and Time Costs Better Coordination Implementation Operations Research
- 31. “If you don't actively attack the risks, they will actively attack you. - Tom Gilb 31
- 32. Thank You! 32
Editor's Notes
- #5: Better decisions, better control, better coordination, better systems