The document provides an overview of operations research (OR), including its history, methodology, tools and techniques, and applications. It discusses how OR began during World War II to analyze military operations and optimize resource allocation. The seven main steps of the OR methodology are described. Common OR tools include linear programming, game theory, decision theory, queuing theory, inventory models, simulation, and dynamic programming. Finally, the document outlines some example applications of OR in fields like accounting, construction, and facilities planning.
Importance of Operation Research in Decision Making – MIT School of Distance ...MIT School
Operation Research is considered to be the most supportive means in management because it can help in resolving any uncertain or complex problem easily. Decisions, controlling, productivity these points show the importance of operation research in the decision-making process. At MIT School of Distance Education (MIT-SDE), we train our students in such a way that they become decision-makers. So, apply for our management courses and gain a competitive edge.
To know more information you can visit here: http://blog.mitsde.com/importance-of-operation-research-in-decision-making/
Importance of Operation Research in Decision Making – MIT School of Distance ...MIT School
Operation Research is considered to be the most supportive means in management because it can help in resolving any uncertain or complex problem easily. Decisions, controlling, productivity these points show the importance of operation research in the decision-making process. At MIT School of Distance Education (MIT-SDE), we train our students in such a way that they become decision-makers. So, apply for our management courses and gain a competitive edge.
To know more information you can visit here: http://blog.mitsde.com/importance-of-operation-research-in-decision-making/
Introduction to Operations Research with basic concepts along with Models in Operation Research also addressed.
Subscribe to Vision Academy YouTube Channel
https://www.youtube.com/channel/UCjzpit_cXjdnzER_165mIiw
Operation research and its application
• Operations • The activities carried out in an organization.
• Research • The process of observation and testing characterized by the scientific method. Situation, problem statement, model construction, validation, experimentation, candidate solutions.
Unit I (8 Hrs)
Introduction to Linear Programming – Various definitions, Statements of basic
theorems and properties, Advantages Limitations and Application areas of Linear
Programming, Linear Programming -Graphical method, - graphical solution
methods of Linear Programming problems, The Simplex Method: -the Simplex
Algorithm, Phase II in simplex method, Primal and Dual Simplex Method, Big-M
Method
Unit II (8 Hrs)
Transportation Model and its variants: Definition of the Transportation Model
-Nontraditional Transportation Models-the Transportation Algorithm-the Assignment
Model– The Transshipment Model
Unit III (8 Hrs)
Network Models: Basic differences between CPM and PERT, Arrow Networks,
Time estimates, earliest completion time, Latest allowable occurrences time,
Forward Press Computation, Backward Press Computation, Representation in
tabular form, Critical Path, Probability of meeting the scheduled date of completion,
Various floats for activities, Critical Path updating projects, Operation time cost trade
off Curve project,
Selection of schedule based on :- Cost analysis, Crashing the network
Sequential model & related problems, processing n jobs through – 1 machine & 2
machines
Unit IV (8 Hrs)
Network Models: Scope of Network Applications – Network definitions, Goal
Programming Algorithms, Minimum Spanning Tree Algorithm, Shortest Route
Problem, Maximal flow model, Minimum cost capacitated flow problem
Unit V (8 Hrs)
Decision Analysis: Decision - Making under certainty - Decision - Making under
Risk, Decision
under uncertainty.
Unit VI (8 Hrs)
Simulation Modeling: Monte Carlo Simulation, Generation of Random Numbers,
Method for
Gathering Statistical observations
This is a presentation from video on 'Introduction to Operations Research' available at the end of this presentations and directly at https://youtu.be/PSOW3_gX2OU
Topics like Organisations of Operations Research, History of Operations Research Role of Operations Research(OR), Scope of Operations Research(OR), Characteristics of Operations Research(OR), Attributes of Operations Research(OR).
This video also talks about Models of Operations Research
• Degree of abstraction
o Mathematical models
o Language models
o Concrete models
• Function
o Descriptive models
o Predictive models
o Normative models
• Time Horizon
o Static models
o Dynamic models
• Structure
o Iconic or physical models
o Analog or schematic models
o Symbolic or mathematical models
• Nature of environment
o Deterministic models
o Probabilistic models
• Extent of generality
o General model
o Specific models
This presentations covers Definition of Operations Research , Models, Scope,Phases ,advantages,limitations, tools and techniques in OR and Characteristics of Operations research
Introduction to Operations Research with basic concepts along with Models in Operation Research also addressed.
Subscribe to Vision Academy YouTube Channel
https://www.youtube.com/channel/UCjzpit_cXjdnzER_165mIiw
Operation research and its application
• Operations • The activities carried out in an organization.
• Research • The process of observation and testing characterized by the scientific method. Situation, problem statement, model construction, validation, experimentation, candidate solutions.
Unit I (8 Hrs)
Introduction to Linear Programming – Various definitions, Statements of basic
theorems and properties, Advantages Limitations and Application areas of Linear
Programming, Linear Programming -Graphical method, - graphical solution
methods of Linear Programming problems, The Simplex Method: -the Simplex
Algorithm, Phase II in simplex method, Primal and Dual Simplex Method, Big-M
Method
Unit II (8 Hrs)
Transportation Model and its variants: Definition of the Transportation Model
-Nontraditional Transportation Models-the Transportation Algorithm-the Assignment
Model– The Transshipment Model
Unit III (8 Hrs)
Network Models: Basic differences between CPM and PERT, Arrow Networks,
Time estimates, earliest completion time, Latest allowable occurrences time,
Forward Press Computation, Backward Press Computation, Representation in
tabular form, Critical Path, Probability of meeting the scheduled date of completion,
Various floats for activities, Critical Path updating projects, Operation time cost trade
off Curve project,
Selection of schedule based on :- Cost analysis, Crashing the network
Sequential model & related problems, processing n jobs through – 1 machine & 2
machines
Unit IV (8 Hrs)
Network Models: Scope of Network Applications – Network definitions, Goal
Programming Algorithms, Minimum Spanning Tree Algorithm, Shortest Route
Problem, Maximal flow model, Minimum cost capacitated flow problem
Unit V (8 Hrs)
Decision Analysis: Decision - Making under certainty - Decision - Making under
Risk, Decision
under uncertainty.
Unit VI (8 Hrs)
Simulation Modeling: Monte Carlo Simulation, Generation of Random Numbers,
Method for
Gathering Statistical observations
This is a presentation from video on 'Introduction to Operations Research' available at the end of this presentations and directly at https://youtu.be/PSOW3_gX2OU
Topics like Organisations of Operations Research, History of Operations Research Role of Operations Research(OR), Scope of Operations Research(OR), Characteristics of Operations Research(OR), Attributes of Operations Research(OR).
This video also talks about Models of Operations Research
• Degree of abstraction
o Mathematical models
o Language models
o Concrete models
• Function
o Descriptive models
o Predictive models
o Normative models
• Time Horizon
o Static models
o Dynamic models
• Structure
o Iconic or physical models
o Analog or schematic models
o Symbolic or mathematical models
• Nature of environment
o Deterministic models
o Probabilistic models
• Extent of generality
o General model
o Specific models
This presentations covers Definition of Operations Research , Models, Scope,Phases ,advantages,limitations, tools and techniques in OR and Characteristics of Operations research
This PPT covers Introduction of Operations research, Features, phases,Limitations of OR Travelling salesman problem, Assignment Problems, transportation Problems, Replacement Problems,EOQ,Inventory Control
This ppt will explain you the Defintion ,detailed explanation of phases with necessory diagrams, Applications ,Limitations and scope of Operations Research
Operational Research and Organizational SystemIJRES Journal
Organizational systems, as well as specific integration of social and technical systems are extremely important for the development of human society. The most part, the problems of managing these systems are reduced to operations research - a generic term for activities that define the processes involved in the functions of organizational systems, and hence the term operations research. Field of study operations research as a scientific discipline, the organizational processes and activities that are being carried out and an important determinant of the intention to find the best decisions in managing the operations undertaken to achieve the set goals of the system. The generality of operations research is reflected in the fact that apply to all types of organizational systems - commercial, industrial, agricultural, military, medical, educational, government, and the like. Users of operations research decision makers - managers, whose task is to efficiently and effectively manage organizational systems. In this paper we consider operational research and conceptual foundations that enable its effective use in solving the problem of organizational systems.
Why Operations Research?
Introduction
Origin of operations research
Definition of operations research
Characteristics of operations research
Role of operations research in decision-making
Methods of solving operations research problem
Phases in solving operations research problems
Typical problems in operations research
Scope of operations research
Why to study operations research
Nita H.Shah Ravi M. Gor Hardik Soni
How to Split Bills in the Odoo 17 POS ModuleCeline George
Bills have a main role in point of sale procedure. It will help to track sales, handling payments and giving receipts to customers. Bill splitting also has an important role in POS. For example, If some friends come together for dinner and if they want to divide the bill then it is possible by POS bill splitting. This slide will show how to split bills in odoo 17 POS.
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Synthetic Fiber Construction in lab .pptxPavel ( NSTU)
Synthetic fiber production is a fascinating and complex field that blends chemistry, engineering, and environmental science. By understanding these aspects, students can gain a comprehensive view of synthetic fiber production, its impact on society and the environment, and the potential for future innovations. Synthetic fibers play a crucial role in modern society, impacting various aspects of daily life, industry, and the environment. ynthetic fibers are integral to modern life, offering a range of benefits from cost-effectiveness and versatility to innovative applications and performance characteristics. While they pose environmental challenges, ongoing research and development aim to create more sustainable and eco-friendly alternatives. Understanding the importance of synthetic fibers helps in appreciating their role in the economy, industry, and daily life, while also emphasizing the need for sustainable practices and innovation.
The Art Pastor's Guide to Sabbath | Steve ThomasonSteve Thomason
What is the purpose of the Sabbath Law in the Torah. It is interesting to compare how the context of the law shifts from Exodus to Deuteronomy. Who gets to rest, and why?
Students, digital devices and success - Andreas Schleicher - 27 May 2024..pptxEduSkills OECD
Andreas Schleicher presents at the OECD webinar ‘Digital devices in schools: detrimental distraction or secret to success?’ on 27 May 2024. The presentation was based on findings from PISA 2022 results and the webinar helped launch the PISA in Focus ‘Managing screen time: How to protect and equip students against distraction’ https://www.oecd-ilibrary.org/education/managing-screen-time_7c225af4-en and the OECD Education Policy Perspective ‘Students, digital devices and success’ can be found here - https://oe.cd/il/5yV
Ethnobotany and Ethnopharmacology:
Ethnobotany in herbal drug evaluation,
Impact of Ethnobotany in traditional medicine,
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This presentation provides a briefing on how to upload submissions and documents in Google Classroom. It was prepared as part of an orientation for new Sainik School in-service teacher trainees. As a training officer, my goal is to ensure that you are comfortable and proficient with this essential tool for managing assignments and fostering student engagement.
The Indian economy is classified into different sectors to simplify the analysis and understanding of economic activities. For Class 10, it's essential to grasp the sectors of the Indian economy, understand their characteristics, and recognize their importance. This guide will provide detailed notes on the Sectors of the Indian Economy Class 10, using specific long-tail keywords to enhance comprehension.
For more information, visit-www.vavaclasses.com
1. AN OVERVIEW ON OPERATION RESEARCH AND TOOLS AND TECHNIQUES USED
- ADITYA JHUNJHUNWALA,17001
The British/Europeans refer to "operational research", the Americans to "operations research" - but both
are often shortened to just "OR" (which is the term we will use). Another term, which is used, for this
field is "management science" ("MS"). The Americans sometimes combine the terms OR and MS
together and say "OR/MS" or "ORMS". Yet other terms sometimes used are "industrial engineering"
("IE"), "decision science" ("DS"), and “problem solving”. In recent years there has been a move towards a
standardization upon a single term for the field, namely the term "OR". “Operations Research
(Management Science) is a scientific approach to decision making that seeks to best design and operate a
system, usually under conditions requiring the allocation of scarce resources.” A system is an
organization of interdependent components that work together to accomplish the goal of the system.
HISTORY OF OPERATION RESEARCH
The name operations investigate advanced in the year 1940. Amid World War 2, a group of researcher
(Blackett's Circus) in UK connected logical strategies to examine military operations to win the war and
the procedures consequently created was named as operation explore.
As a formal train, operations inquire about started from the endeavours of armed force guides at the
season of World War II. In the years following the war, the techniques began to be utilized widely to
issues in business, industry and society. As far back as at that point, OR has formed into a subject as often
as possible utilized in ventures including petrochemicals, coordination’s, aircrafts, fund, government, and
so on.
Along these lines, the Operational Research started amid World War II in incredible Britain with the
foundation of gatherings of researchers to break down the vital and strategic issues related with military
operations. The point was to find the most proficient utilization of constrained military assets by the use
of quantitative systems.
India was among the couple of countries which started using O.R. In 1949, the primary Operational
Research unit was built up at Hyderabad which was named Regional Research Laboratory found. In the
meantime an extra unit was propelled in Defence Science Laboratory to settle the Stores, Purchase and
Planning Problems. In 1953 at Calcutta, an O.R. unit was built up in Indian Statistical Institute. The goal
was to utilize O.R. strategies in National Planning and Survey. In 1955, Operations Research Society of
India was made, which is among the main individuals from International Federation of Operations
Research social orders. Today, the use of O.R. systems have spread out from armed force to an extensive
variety of offices at all levels.
2. THE METHODOLOGY OF OR
When OR is used to solve a problem of an organization, the following seven-step procedure should be
followed:
Step 1. Formulate the Problem OR analyst first defines the organization's problem - Defining the problem
includes specifying the organization's objectives and the parts of the organization (or system) that must be
studied before the problem can be solved.
Step 2. Observe the System - The analyst collects data to estimate the values of parameters that affect the
organization's problem. These estimates are used to develop (in Step 3) and evaluate (in Step 4) a
mathematical model of the organization's problem.
Step 3. Formulate a Mathematical Model of the Problem - The analyst, then, develops a mathematical
model (in other words an idealized representation) of the problem. In this class, we describe many
mathematical techniques that can be used to model systems.
Step 4. Verify the Model and Use the Model for Prediction - The analyst now tries to determine if the
mathematical model developed in Step 3 is an accurate representation of reality. To determine how well
the model fits reality, one determines how valid the model is for the current situation.
Step 5. Select a Suitable Alternative Given a model and a set of alternatives - The analyst chooses the
alternative (if there is one) that best meets the organization's objectives. Sometimes the set of alternatives
is subject to certain restrictions and constraints. In many situations, the best alternative may be impossible
or too costly to determine.
Step 6. Present the Results and Conclusions of the Study - In this step, the analyst presents the model and
the recommendations from Step 5 to the decision-making individual or group. In some situations, one
might present several alternatives and let the organization choose the decision maker(s) choose the one
that best meets her/his/their needs. After presenting the results of the OR study to the decision maker(s),
the analyst may find that s/he does not (or they do not) approve of the recommendations. This may result
from incorrect definition of the problem on hand or from failure to involve decision maker(s) from the
start of the project. In this case, the analyst should return to Step 1, 2, or 3.
Step 7. Implement and Evaluate Recommendation - If the decision maker(s) has accepted the study, the
analyst aids in implementing the recommendations. The system must be constantly monitored (and
updated dynamically as the environment changes) to ensure that the recommendations are enabling
decision maker(s) to meet her/his/their objectives.
OPERATIONAL RESEARCH TOOLS AND TECHNIQUES
Operations Research utilizes any appropriate apparatuses or systems accessible. The regular every now
and again utilized devices/strategies are scientific systems, cost investigation, electronic calculation.
However, operations analysts given unique significance to the improvement and the utilization of systems
like direct programming, amusement hypothesis, choice hypothesis, lining hypothesis, stock models and
recreation. Notwithstanding the above strategies, some other basic apparatuses are non-straight
programming, whole number programming, dynamic programming, sequencing hypothesis, Markov
process, arrange planning (PERT/CPM), emblematic Model, data hypothesis, and esteem hypothesis.
There is numerous different Operations Research instruments/procedures likewise exists.
3. The concise clarifications of a portion of the above systems/instruments are as per the following:
Linear Programming:
This is a constrained optimization technique, which optimize some criterion within some constraints. In
Linear programming the objective function (profit, loss or return on investment) and constraints are
linear. There are different methods available to solve linear programming.
Game Theory:
This is used for making decisions under conflicting situations where there are one or more
players/opponents. In this the motive of the players are dichotomized. The success of one player tends to
be at the cost of other players and hence they are in conflict.
Decision Theory:
Decision theory is concerned with making decisions under conditions of complete certainty about the
future outcomes and under conditions such that we can make some probability about what will happen in
future.
Queuing Theory:
Choose the solution to be used. ‘Sell’ the decision to operating managers; get their understanding and
cooperation. Manager and O.R. Specialist This is used in situations where the queue is formed (for
example customers waiting for service, aircrafts waiting for landing, jobs waiting for processing in the
computer system, etc). The objective here is minimizing the cost of waiting without increasing the cost of
servicing.
Inventory Models:
Inventory model make a decisions that minimize total inventory cost. This model successfully reduces the
total cost of purchasing, carrying, and out of stock inventory.
Simulation:
Simulation is a procedure that studies a problem by creating a model of the process involved in the
problem and then through a series of organized trials and error solutions attempt to determine the best
solution. Some times this is a difficult/time consuming procedure. Simulation is used when actual
experimentation is not feasible or solution of model is not possible.
Non-linear Programming:
This is used when the objective function and the constraints are not linear in nature. Linear relationships
may be applied to approximate non-linear constraints but limited to some range, because approximation
becomes poorer as the range is extended. Thus, the non-linear programming is used to determine the
approximation in which a solution lies and then the solution is obtained using linear methods.
Dynamic Programming:
Dynamic programming is a method of analysing multistage decision processes. In this each elementary
decision depends on those preceding decisions and as well as external factors.
Integer Programming:
If one or more variables of the problem take integral values only then dynamic programming method is
used. For example number or motor in an organization, number of passenger in an aircraft, number of
generators in a power generating plant, etc.
4. APPLICATIONS OF OPERATIONS RESEARCH
Today, almost all fields of business and government utilizing the benefits of Operations Research. There
are voluminous of applications of Operations Research. Although it is not feasible to cover all
applications of O.R. in brief. The following are the abbreviated set of typical operations research
applications to show how widely these techniques are used today:
Accounting:
Assigning audit teams effectively, Credit policy analysis, Cash flow planning, Developing standard costs,
Establishing costs for by products, Planning of delinquent account strategy
Construction:
Project scheduling, monitoring and control, Determination of proper work force, Deployment of work
force, Allocation of resources to projects
Facilities Planning:
Factory location and size decision, Estimation of number of facilities required, Hospital planning,
International logistic system design, Transportation loading and unloading, Warehouse location decision.
Finance:
Building cash management models, Allocating capital among various alternatives, Building financial
planning models, Investment analysis, Portfolio analysis, Dividend policy making.
Manufacturing:
Inventory control, Marketing balance projection, Production scheduling, Production smoothing.
Marketing:
Advertising budget allocation, Product introduction timing, Selection of Product mix, Deciding most
effective packaging alternative.
Organizational Behaviour / Human Resources:
Personnel planning, Recruitment of employees, Skill balancing, Training program scheduling, Designing
organizational structure more effectively.
Purchasing:
Optimal buying, optimal reordering, Materials transfer.
5. LIMITATIONS OF OPERATIONS RESEARCH
Operations Research has number of applications; similarly it also has certain limitations. These
limitations are mostly related to the model building and money and time factors problems involved in its
application. Some of them are as given below:
I.Distance between O.R. specialist and Manager
Operations Researchers job needs a mathematician or statistician, who might not be aware of the business
problems. Similarly, a manager is unable to understand the complex nature of Operations Research. Thus
there is a big gap between the two personnel.
II.Magnitude of Calculations
The aim of the O.R. is to find out optimal solution taking into consideration all the factors. In this modern
world these factors are enormous and expressing them in quantitative model and establishing
relationships among these require voluminous calculations, which can be handled only by machines.
III.Money and Time Costs
The basic data are subjected to frequent changes, incorporating these changes into the operations research
models is very expensive. However, a fairly good solution at present may be more desirable than a perfect
operations research solution available in future or after some time.