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Or 97 2003[1]


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operation research

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Or 97 2003[1]

  1. 1. PRESENTATION ON OPERATION RESEARCH By: Ankit Fating Rishu Bharadwaj
  2. 2. Contents Definition 1 Characteristics 2 Scope of OR Industry 5 Indian Company Using OR Techniques 4 Quantitative Approach to Decision Making 6 Models & Phases 3
  3. 3. Definition of Operation Research <ul><li>An operation may be called a set of acts required for achievement of a desire outcome. </li></ul><ul><li>Operation research rather simply defined is research of operation. </li></ul><ul><li>Operation research is a scientific approach to problem solving for executive management. </li></ul><ul><li>------- H.M. Wagner </li></ul>
  4. 4. Characteristics of Operation Research <ul><li>System or executive orientation </li></ul><ul><li>The use of interdisciplinary teams </li></ul><ul><li>Application of scientific method </li></ul><ul><li>Uncovering of new problems </li></ul><ul><li>Improvement in the quality of decisions </li></ul><ul><li>Use of computer </li></ul><ul><li>Quantitative solutions </li></ul><ul><li>Human factors. </li></ul>
  5. 5. Models in Operation Research
  6. 6. PHASES The Judgment phase The Research Phase The Action Phase Phases Of Operation Research
  7. 7. The Judgment Phase <ul><li>Ascertaining the operation </li></ul><ul><li>Establishing the objective </li></ul><ul><li>Determining the appropriate measures </li></ul><ul><li>Formulating the problem </li></ul>
  8. 8. Research Phase <ul><li>Observation & Collection of data </li></ul><ul><li>Hypothesis or Assumption formulation </li></ul><ul><li>Model formulation </li></ul><ul><li>Analyzing the available data </li></ul><ul><li>Testing & Verifying the accuracy of the hypothesis </li></ul><ul><li>Generalizing the results </li></ul><ul><li>Considering the alternative methods </li></ul>
  9. 9. Action Phase <ul><li>After the above two phases are complete and an optimal solution has been obtained, in the Action Phase, recommendation are made to the top management for accepting the proposed solution. </li></ul>
  10. 10. Scope of OR in Industry <ul><li>Industrial Management </li></ul><ul><li>Defense Operation </li></ul><ul><li>Agriculture Sector </li></ul><ul><li>Big & Small Organization </li></ul>
  11. 11. Indian Companies Using OR Techniques <ul><li>In Industrial sector, organized industries in India are becoming conscious role of operations research & a good number of them have well trained OR teams. </li></ul><ul><li>Some of Indian organizations using OR techniques are: Indian Airlines, Defense Organization, Fertilizer Corporation of India, Tata Iron Steel Co, TELCO, DCM etc. </li></ul><ul><li>Linear Programming Techniques. </li></ul><ul><li>PERT/CPM Techniques. </li></ul>
  12. 12. Quantitative Approach to Decision Making <ul><li>Decision making is the top most responsibility of a modern day, manger-both during the short-run as well as the long-run planning period. </li></ul><ul><li>Decision are required to be taken for smooth functioning of the organization -so that it may achieve its objectives mission without any problems. These decision, which relate to the day-to-day operations, are known as tactical decision. </li></ul>
  13. 13. Advantages of OR to executive D M
  14. 14. Queries??? Thank You !