Urubio, Josel Anne E Operations Research September 25, 2021

BSIE-31A1 Seatwork #1 Professor Masa

Briefly discuss on why these areas are applicable in using operations research.

1. National Planning and Budgeting

Operations Research (OR) techniques play a very important role in analyzing the finance
problems such as equity, debt, foreign exchange markets, design securities, market regulations, risk
evaluation and control, regulation of capital reserves, devise pricing equations and analyzing market
data.

2. Research and Design and Engineering

Engineering in the field of research and development include tasks that managements undertake
to innovate and introduce new products and services to its consumers. Most of the times, this is the first
stage in the development process. The goal is typically to take new products and services to market and
add to the company's bottom line. R&D represents the activities companies undertake to innovate and
introduce new products and services or to improve their existing offerings. With the application of basic
principles in Operations Research, this will allow a company to stay ahead of its competition. Therefore,
companies in different sectors and industries conduct research and design.

3. Business Management and Competition

Operations research is important because it is a helpful tool used to solve complex problems
under uncertainty. Operations research techniques fill this void with methods that quantify issues and
give business managers a better basis for making decisions.

4. Education and Training

Operational Research (OR) techniques have been applied, from the early stages of the discipline,
to a wide variety of issues in education. At the government level, these include questions of what
resources should be allocated to education as a whole and how these should be divided amongst the
individual sectors of education and the institutions within the sectors. Another pertinent issue concerns
the efficient operation of institutions, how to measure it, and whether resource allocation can be used to
incentivise efficiency savings. Local governments, as well as being concerned with issues of resource
allocation, may also need to make decisions regarding, for example, the creation and location of new
institutions or closure of existing ones, as well as the day-to-day logistics of getting pupils to schools. Issues
of concern for managers within schools and colleges include allocating the budgets, scheduling lessons
and the assignment of students to courses.

In the field of training, operations research provides a more powerful approach to decision making
in the company such as skills in ordinary software and data analytics tools or etc. Employing operations
research professionals who can help company trainees to achieve more complete datasets, consider all
available options, predict all possible outcomes and estimate risk.
Urubio, Josel Anne E Operations Research September 25, 2021
BSIE-31A1 Seatwork #1 Professor Masa

5. Transportation

Transportation has always been one of the biggest problem in our country. With the help of
operational research, it is concerned with finding the best option to eliminate the problems around it.
This is by finding the minimum cost of transporting a single commodity from a given number of sources
from factories to a given number of destinations like warehouse. These types of problems can be solved
by general network methods, but here we use a specific transportation algorithm.