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Chapter One Introduction p3

Operations Research (OR) uses mathematical models to help managers make effective decisions. OR involves modeling, analysis, and finding optimal solutions to help guide decision making. It is also known as operational research, decision sciences, management science, and quantitative management. OR has applications in areas like product mix optimization, blending problems, transportation problems, and assignment problems to help businesses.

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Aba Macha
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25 views3 pages

Chapter One Introduction p3

Operations Research (OR) uses mathematical models to help managers make effective decisions. OR involves modeling, analysis, and finding optimal solutions to help guide decision making. It is also known as operational research, decision sciences, management science, and quantitative management. OR has applications in areas like product mix optimization, blending problems, transportation problems, and assignment problems to help businesses.

Uploaded by

Aba Macha
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
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Operations Research is the use of mathematical models

in providing guidelines to managers for making


effective decisions

Analysis for Effective


Modeling
Optimal Solution Decisions

1
This OR is known by several different names:

Operations Research

Operational Research

Decision Sciences

Management Science

Quantitative Management

2
Business Use of OR
• Some application areas of OR:
• Product mix optimization problems
• Blending Problems

• Transportation problems
• Assignment Problem
• etc…

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