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Operational Research
- Significance & Limitation
- SanjeetYadav
The Development… A historical Outlook
 Development in Military context during world war second
 Especially in England by British Forces
 Drawn personnel from multiple fields
 Same repealed in USA, Canada
 Evolved as a separate science & discipline
 After end of Second world war, O.R started seeking military teams
attention towards industries for solving complex managerial
problems.
Operational research is a
Scientific method of providing executive departments with a
quantitative basis for decisions regarding the operations under
their control.
- P.M. Morse & G.F.
Kimball
Significance
 A tool for scientific analysis
 Solution of various business problems
 Enables proper deployment of resources
 Minimizing waiting & servicing cost
 Enable management to decide when to buy & how much
 Assist in choosing an optimum strategy
 Great help in optimum resources
 Facilitates in decision making process
 Integrate business systems
Limitations
 Inherent limitation concerning mathematical expressions
 High cost involved
 O.R does not take into consideration the intangible factors
 Not complete for decision making
 Bias
 Too objective
 Competence
 Reliability
. Thanks . Regards .

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Operations Research: Significance and limitations

  • 1. Operational Research - Significance & Limitation - SanjeetYadav
  • 2. The Development… A historical Outlook  Development in Military context during world war second  Especially in England by British Forces  Drawn personnel from multiple fields  Same repealed in USA, Canada  Evolved as a separate science & discipline  After end of Second world war, O.R started seeking military teams attention towards industries for solving complex managerial problems.
  • 3. Operational research is a Scientific method of providing executive departments with a quantitative basis for decisions regarding the operations under their control. - P.M. Morse & G.F. Kimball
  • 4. Significance  A tool for scientific analysis  Solution of various business problems  Enables proper deployment of resources  Minimizing waiting & servicing cost  Enable management to decide when to buy & how much  Assist in choosing an optimum strategy  Great help in optimum resources  Facilitates in decision making process  Integrate business systems
  • 5. Limitations  Inherent limitation concerning mathematical expressions  High cost involved  O.R does not take into consideration the intangible factors  Not complete for decision making  Bias  Too objective  Competence  Reliability
  • 6. . Thanks . Regards .