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PRESENTATION ON OPERATION RESEARCH

By:Ankit Fating

Rishu Bharadwajtqma2z.blogspot.com

Contents

Definition1

Characteristics2

Scope of OR Industry5

Indian Company Using OR Techniques 4

Quantitative Approach to Decision Making6

Models & Phases3

Definition of Operation Research

An operation may be called a set of acts required for achievement of a desire outcome.

Operation research rather simply defined is research of operation.

Operation research is a scientific approach to problem solving for executive management.

------- H.M. Wagner

Characteristics of Operation Research

System or executive orientationThe use of interdisciplinary teamsApplication of scientific methodUncovering of new problemsImprovement in the quality of decisionsUse of computerQuantitative solutionsHuman factors.

Models in Operation Research

PHASES

The Judgment phase

The Research Phase

The Action Phase

Phases Of Phases Of Operation Operation Research Research

The Judgment Phase

Ascertaining the operationEstablishing the objectiveDetermining the appropriate measuresFormulating the problem

Research Phase

Observation & Collection of dataHypothesis or Assumption formulationModel formulationAnalyzing the available dataTesting & Verifying the accuracy of the

hypothesisGeneralizing the resultsConsidering the alternative methods

Action Phase

After the above two phases are complete and an optimal solution has been obtained, in the Action Phase, recommendation are made to the top management for accepting the proposed solution.

Scope of OR in Industry

Industrial ManagementDefense OperationAgriculture SectorBig & Small Organization

Indian Companies Using OR Techniques

In Industrial sector, organized industries in India are becoming conscious role of operations research & a good number of them have well trained OR teams.

Some of Indian organizations using OR techniques are: Indian Airlines, Defense Organization, Fertilizer Corporation of India, Tata Iron Steel Co, TELCO, DCM etc.

Linear Programming Techniques.

PERT/CPM Techniques.

Quantitative Approach to Decision Making

Decision making is the top most responsibility of a modern day, manger-both during the short-run as well as the long-run planning period.

Decision are required to be taken for smooth functioning of the organization -so that it may achieve its objectives mission without any problems. These decision, which relate to the day-to-day operations, are known as tactical decision.

Advantages of OR to executive D M

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