This document provides an overview of operations research (OR), including its applications in business. OR uses mathematical modeling and scientific techniques to help optimize complex decision-making problems under constraints like limited resources. It discusses common OR techniques like linear programming, transportation problems, and queuing theory. The document also outlines the typical steps to an OR study, including formulating the problem, building a mathematical model, selecting alternatives, and implementing recommendations. Finally, it lists some common areas where OR is applied, such as national planning, defense, manufacturing, and transportation.

1. OPERATION RESEARCH
BUSINESS APPLICATIONS OF
OPERATION RESEARCH
PRESENTED BY: Ashim Roy (K13226)
Ravi Singh (K13389)
Surbhi Hada (K13239)
Barkha Daswani (K13517)

2. *
*Operations Research (or Management Science or Decision Sciences)
is a scientific manner of decision making, mostly under the pressure
of scarce resources.
*The objective of decision making is often the maximization of
profit, minimization of cost, better efficiency, better operational or
tactical or strategic planning or scheduling, better pricing, better
productivity, better throughput, better location, better risk
management, or better customer service.
*The scientific manner involves extensive use of mathematical
representations or models of real life situations.

3. *
*Linear Programming
*Transportation Problem
*Assignment Problem
*Queuing Theory
*Game Theory
*Network Scheduling
*Goal Programming
*Simulation
*Nonlinear Programming
*Integer Programming
*Dynamic Programming

4. *

5. *Step 1: Formulate the problem.
*Step 2: Observe the system.
*Step 3: Formulate a mathematical model of the problem.
*Step 4: Verify the model and use it for prediction.
*Step 5: Select a suitable alternative Given a model and a
set of alternatives.
*Step 6: Present the results and conclusions.
*Step 7: Implement and evaluate recommendation.
*

6. *Decision-making
*Scientific Approach
*Inter-disciplinary Team Approach
*System Approach
*Use of Computers
*

7. *
*National Planning and Budgeting OR
*Defence Services
*Industrial Establishment and Private Sector Units
*R & D and Engineering
*Business Management and Competition
*Agriculture and Irrigation
*Education and Training
*Transportation
*Home Management and Budgeting

8. *

9. *
*Magnitude of Computation
*Non-Quantifiable Factors
*Distance between User and Analyst
*Time and Money Costs
*Implementation

10. *
*Today’s global markets and instant communications mean that
customers expect high-quality products and services when they need
them, where they need them.
*Organizations, whether public or private, need to provide these
products and services as effectively and efficiently as possible by the
OR techniques at all.
*Operations research is the discipline of applying advanced analytical
methods to help make better decisions.
*OR is the use of advanced analytical techniques to improve decision
making.

11. THANK
YOU