Operations Research - Definition
According to Philip McCord Morse as well as George E. Kimball,
"Operations interrogation is a scientific method of providing executive departments alongside a quantitative reason for decisions regarding the operations nether their control."
According to Russell L. Ackoff as well as C. West Churchman,
"Operations interrogation is the application of scientific methods to brand it at the optimal solutions to the problems."
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Meaning of Operations Research
Operations interrogation OR way to apply scientific as well as mathematical methods for blogspot.com//search?q=decision-making-process-in-management">decision making as well as job solving.
OR does non render decisions else it provides quantitative information to the managers. The managers work this information for making decisions.
OR tries to uncovering improve solutions to dissimilar problems. Hence, it is used to solve complex blogspot.com//search?q=decision-making-process-in-management">management problems.
OR helps to receive got decisions most operations as well as production.
OR was commencement used during the Second World War yesteryear England to solve their complex nation of war problems. England made OR teams. These teams included practiced mathematicians, statisticians, scientists, engineers, etc. These OR teams were rattling successful inwards solving England's nation of war problems. Therefore, United States of America of America (USA) besides started using OR to solve their nation of war problems. After the war, presently blogspot.com//search?q=decision-making-process-in-management">industries as well as blogspot.com//search?q=decision-making-process-in-management">businesses besides started using OR to solve their complex administration problems.
Features of Operations Research
The principal characteristics or features of operations interrogation (OR) are:-
- Creating a Model : OR commencement makes a model. Influenza A virus subtype H5N1 model is a logical representation of a problem. It shows the relationships betwixt the dissimilar variables inwards the problem. It is simply similar a mathematical formula.
For e.g. Assets - Liabilities = Capital + Accumulated Reserves. - Shows Important Variables : OR shows the variables which are of import for solving the problem. Many of the variables are uncontrollable.
- Symbolises the Model : The OR model, its variables as well as goals are converted into mathematical symbols. These symbols tin hold upward easily identified, as well as they tin hold upward used for calculation.
- Achieving the Goal : The principal finish of OR is to guide the best solution for solving the problem.
- Quantifying the Model : All variables inwards the OR model are quantified. That is, they are converted into numbers. This is because alone quantified information tin hold upward pose into the model to larn results.
- Using Mathematical Devices : Data is supplemented alongside mathematical devices to narrow downwards the margin of error.
- Use of Computer : The principal focus is on decision-making as well as job solving. For this travel computers are widely used.
- Interdisciplinary : OR is interdisciplinary, because it uses techniques from economics, mathematics, chemistry, physics, etc.
- Highest Efficiency : The principal aim of OR is to brand decisions as well as solve problems. This results inwards the highest possible efficiency.
Limitations of Operations Research
The demerits or limitations of operations interrogation (OR) are depicted below.
- Costly : Operations Research (OR) is rattling costly. This is because OR makes mathematical models for taking decisions as well as solving problems. The fellowship has to brand diverse models for solving dissimilar problems. All this increments the cost.
- Not Realistic : OR experts brand rattling complex models for solving problems. These models may non hold upward realistic. Hence, they may non hold upward useful for real-life situations.
- Complex : OR is rattling complex concept. It is rattling hard for an average managing director to sympathise it. Therefore, most managers do non work OR techniques.
