What is Operations Research (Management Science)?

Mathematical modelling of situations where decision making requires: - identifying and evaluating various decision alternatives - working under various constraints - evaluating the decision alternatives using some objective criterion (min costs, max service levels etc.) to select the best alternative

Model Building:
 

Important aspect of OR Abstraction of the real world decision problem Trade off between realism and tractability (solvability)

Types of Models:


Deterministic - Input known with certainty Stochastic - Input not known with certainty

Classification of Models by Techniques Used:



    

Linear, Integer, Nonlinear, Goal Programming Transportation or Distribution Networks Inventory Simulation Queuing

Applications:
       

Capacity Planning and Utilization Resource Planning and Utilization Location Decisions Personnel Planning and Scheduling Budgeting Project Selection / Management Inventory Management Movement of Goods, Logistics, SCM

Applications:
       

Fleet Management Yield (Revenue) Management Military Health Infrastructure Development Transport - Routing/scheduling Forestry Public Utilities (water, electricity)

Applications in Industry:
      

Transportation Telecommunications Service Hotel Textile Chemicals Petroleum Refining

Applications in Industry:
    

Paper and Wood Products Metal Cement Mining Food

What we will look at:



    

Introduction to Models Problem Structuring and Analysis Linear Programming Models Transportation/Network Models Integer Programming Models Multi Criteria Decision Making Their applications