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these models have been developed to establish a trade off between costs of providing and the waiting time of a customer in the queuing system
inventory models deal with the problem of determination of how much to order at a point in time and when to place an order the main objective is
there is no unique set of problems which can be solved by using operations research models r techniques several operations research models or
among other limitations of o r the followings deserve mentiona basis the operational researchers must be unbiased an attempt to shoehorn result sin
operation research is only a tool of analysis and not the complete decision making process it should always be kept in mind that o r alone cannot
operation research makes no allowance for intangible factors such as skill attitude vigor of the management people in taking decisions but in
high costs are involved in the use of o r techniqueso r techniques usually prove very expensive services of specialized persons are invariably
operation reac involves the use of mathematical models equations and similar other mathematical expressions assumptions are always incorporated
operation research may be regarded as a tool which is utilized to increase the effectiveness of the management decisions o r is objective
decision making is not only the headache of management rather all of us make decisions we daily decide about minor issues the essential
operations research uses the methods of science to understand and explain the phenomena of operating systems it devises the theories models
scope of the or techniques can be derived in followings various importance fields1in agriculture with the explosion of population and
uncertainly there is a great uncertainly about economic and general environment with economic growth uncertainty is also growings this makes
scattered responsibility and authority in a big industry responsibility and authority of decisions making is scattered throughout the
in a big industry the numbers of factors influencing a decision have increased situation has become big and complex because these factors
after having studied as to what is operations research we shall now try to answers why its need has been felt by the industry as already
the action phase consists of making recommendations for remedial action to those who first posed the problem and who control the operations
analysis of available information and verification of hypothesis most of the time that a scientist spends in training is devoted to learning
tentative explanations when formulated as propositions are called hypotheses it is very important to state the hypothesis and its
observation and data collection for better understanding of the problemmany times actual observations by trained observers at the scene of
determination of effectiveness measures effectiveness measure is a measure of success of a model in representing a problem and providing a
in the judgement phase due care must be given to define correctly the frame of references of the operation objectives and values whether
an operation is a combination of different actions dealing with raw materials e g men and machines which form a structure from which an action
the scientific method in o r study generally involves the followings three phases1judgment phase2research phase3action
portfolio approach provides a useful tool for analyzing business performance as a top manager of a multi-business firm you apply such analytic skill