The quantitative approach to management originated from research conducted during World War II to solve military problems using mathematics and quantitative techniques. It involves using quantitative techniques like statistics, optimization models, and simulations to improve decision making. There are three main branches: management science which uses quantitative techniques to solve management problems; operations management which focuses on transforming inputs into outputs; and management information systems which designs computer systems to help management. Today, managers use quantitative techniques for planning, budgeting, scheduling, and quality control by relying on quantitative models, equations, and software programs to aid decision making and interpret results.

1. QUANTITATIVE APPROACH BY G.S.N.RAMYA & RAMADEVI

2. HISTORY During World War II, mathematicians, physicists, and other scientists joined together to solve military problems. The quantitative school of management is a result of the research conducted during World War II

3. Definition The quantitative approach involves the use of quantitative techniques to improve decision making. This approach has also been labeled operations research of management science. It includes applications of statistics, optimization models, information models, and computer simulations

4. BRANCHES OF QUANTITATIVE MANAGEMENT management science operations management management information systems

5. MANAGEMENT SCIENCE The management science school emerged to treat the problems associated with global warfare. Today, this view encourages managers to use mathematics, statistics, and other quantitative techniques to make management decisions

6. Contd. Managers use several science applications Mathematical forecasting Inventory modeling Queuing theory

7. Operations management It is the function or field of expertise that is primarily responsible for the production and delivery of an organization’s products and services. Operations management is a narrow branch of the quantitative approach to management. It focuses on managing the process of transforming materials, labor, and capital into useful goods and/or services

8. Management information systems It is the name often given to the field of management that focuses on designing and implementing computer-based information systems for use by management

9. How Do Today’s Managers use the quantitative approach? The quantitative approach has contributed directly to management decision making in the areas of planning and control. When managers make budgeting, scheduling, quality control, and similar decisions, they typically rely on quantitative techniques. The availability of sophisticated computer software programs to aid in developing models, equations, and formulas has made the use of quantitative techniques somewhat less intimidating for managers, although they must still be able to interpret the results.

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