Theory and Applications of Operations Research

Description

Operation Research is a relatively new discipline. The OR starts when mathematical and quantitative techniques are used to substantiate the decision being taken. The main activity of a manager is the decision making. In our daily life we make the decisions even without noticing them. The decisions are taken simply by common sense, judgment and expertise without using any mathematical or any other model in simple situations. But the decision we are concerned here with are complex and heavily responsible. Operations Research tools are not from any one discipline. Operations Research takes tools from different discipline such as mathematics, statistics, economics, psychology, engineering etc. and combines these tools to make a new set of knowledge for decision making. Today, O.R. became a professional discipline which deals with the application of scientific methods for making decision, and especially to the allocation of scarce resources. This book “Theory and Applications of Operations Research” deals with understanding and applying operations research techniques in industrial operations and to create awareness on optimization in utilization of resources. The book may also be used as a reference for management courses as well as research studies in this field.