Characteristics of OR (Features)
The essential characteristics of OR are
1. Inter-disciplinary team approach - The highly optimized solution is found by a group of scientists who are selected from diverse disciplines.
2. To maximize the total output - It attempts to maximize by maximizing the profit and minimizing the loss.
3. Imperfectness of solutions - Enhances the quality of solution.
4. Use of scientific research - It makes use of scientific research to arrive at a optimum solution.
5. Wholistic approach to the system - OR takes all significant related factors and finds the best optimum solution for the total organization.
Management Applications of OR
Some areas of applications are
§ Credit policies, account procedures
§ Cash flow analysis, investment portfolios
§ Physical distribution
§ Maintenance and project scheduling
§ Facilities planning
§ Project selection
§ Reliability and alternative design
§ Determination of area of research and development
§ Product selection, timing
§ Advertising, number of salesman
§ Quantities and timing of purchase
§ Rules for buying, supplies
§ Replacement policies
§ Mixes of age and skills
§ Selection of suitable personnel on minimum salary
Need Operation Research Assignment Help - Homework Help?
Do you have pending homework in Operations Research or troubled with incomplete assignments?
TutorsGlobe offers email based service in operation research homework help, operation research homework help and answering questions with best qualified and experienced subject tutor's assistance. Mostly students are not finding core concept and good materials for operation research subject and topics, We at TutorsGlobe prepare world class study materials and provide you freely on web. Our tutors are working for students giving those benefits of higher education teaching experience. Get solved problem just in time by professionals and compare yourself, you will get easy to solve same kind of problems in future.
Why TutorsGlobe for Operation Research Homework Help
Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!