Operation Research

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Operation Research: 

Operation Research

Definition of Operation Research: 

Operation Research is the application of scientific methods, techniques and tools to provide those in control of the system with optimum solution of the problem. Operation Research is a scientific approach to problem solving for executive management. Operation Research is an art of giving bad answers to problems which otherwise have worse answers. Definition of Operation Research

Features of Operation Research: 

System orientation: OR Study the situation or problem as a whole. It identify all possible interactions and determine their impact on organization as a whole Inter disciplinary team approach: OR is inter-disciplinary in nature whose individual members have been drawn from different scientific and engineering disciplines. Features of Operation Research

Features of Operation Research(Cntd..): 

Scientific Method:- OR uses the scientific methods to solve the problem. Decision Making: OR increases the effectiveness of a management decisions. It is thus a decision science which helps management to make better decsions . Use of Computer: Use of a digital computer has become an integral part of the operation Research. Features of Operation Research( Cntd ..)

Features Contd….: 

Objectives: Operation Research always find the best and optimal solution. For this objectives of the organization are defined and analyzed. Quantitative solution: OR provides the managers with a quantitative basis for decision making. Human Factors: In deriving Quantitative solution OR does not consider human factors which doubtlessly play a great role in the problems. So study of OR is incomplete without a study of Human Factor Features Contd ….

Operation Research Models: 

A model is a representation of reality. A model is a general term denoting any idealised representation or abstraction of a real life system or situation. Advantages of Having a Model: A model is helpful in decision making as it provides a simplified description of complexities and uncertainties of a problem in hand in logical structure. it permits the decision maker to examine the behaviour of a system without interfering with as going operation. Operation Research Models

Types of Models: 

Physical Models: These models include all forms of diagrams , drawing graphs and charts e.g. bar charts or histograms etc. these models are easy to observe, build and describe but can not be manipulated and used for prediction. There are two types of physical models. Iconic Models Analog Models Types of Models

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Iconic Model:- An icon is an image or likeliness of an object or system it represents. An iconic model the least abstract physical replica of a system, is usually based on a smaller scale than the original e.g. flight simulators used by Indian airlines to train pilots. Analog Models: Analog models are closely associated with iconic model. However they are not replicas of problem situation rather they are small physical system that have similar characteristics e.g. children’s toys model of rail, roads etc.

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2. Mathematical Model or symbolic model: - Symbolic models employ a set of mathematical symbols to represent decision variable of the system under study. These variables are related together by mathematical equations e.g simple demand curve in economics etc. 3 . Models based on Environment Deterministic models: In this model everything is defined and the results are certain e.g. EOQ to find economic lot size.

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b) Probabilistic Models : In case of uncertainty and risk where input and output are in the form of probability distribution, probabilistic models are used e.g. Game theory. 4. Models based on the extent of Generality a) General Model: A model which can be generalized is call General model e.g. linear programming model is a general model since it can be used for product mix, production scheduling, marketing, transportation and assignment problem.

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Specific Models: Specific models are the one which can be applied in specific conditions only e.g. sales response curve.