Operations research has limitations including the magnitude of computations needed to account for all factors in modern societies, the inability to quantify non-quantifiable factors, and the gap between managers and operations researchers. It also has costs associated with money, time, and implementing solutions. The key phases of operations research include formulating the problem, constructing a mathematical model, deriving an optimal solution, testing the model's validity, controlling deviations, and implementing the solution.
Operations research has limitations including the magnitude of computations needed to account for all factors in modern societies, the inability to quantify non-quantifiable factors, and the gap between managers and operations researchers. It also has costs associated with money, time, and implementing solutions. The key phases of operations research include formulating the problem, constructing a mathematical model, deriving an optimal solution, testing the model's validity, controlling deviations, and implementing the solution.
Operations research has limitations including the magnitude of computations needed to account for all factors in modern societies, the inability to quantify non-quantifiable factors, and the gap between managers and operations researchers. It also has costs associated with money, time, and implementing solutions. The key phases of operations research include formulating the problem, constructing a mathematical model, deriving an optimal solution, testing the model's validity, controlling deviations, and implementing the solution.
Magnitude of Computations: OR tries to find out optimal
solution taking into account all the factors. In the modern society these factors are enormous and expressing them in quantity and establishing relationships among these required complicated calculations which can only be handled by machines. Non-Quantifiable factors: OR provides solution only when all elements related to a problem can be quantified. Gap between Manager and Operations Researcher: OR being specialist’s job requires a mathematician or statistician. Money & Time costs: When the basic data are subjected to frequent changes, incorporation them into the OR model is a costly affair.
Implementation: Implementation of decision is a delicate task.
Phases/Process of Operations Research Formulating the problem: Formulating a problem consists in identifying, defining and specifying the measures of the components of a decision model. Constructing the model: This phase is concerned with choice of proper data inputs and design of the appropriate information output. It requires the representation of interrelationship among the elements in terms of mathematical formulae. Deriving the solution : This phase deals with mathematical calculation for obtaining solution to the model. A solution to the model means those values of the decision variables that optimize the masseurs of effectiveness in a model. Testing the validity: A model is said to be valid if it can give a reliable prediction of the system’s performance.
Controlling the solution: This phase of the study establishes
control over the solution of proper feed back of the information variables which deviated significantly.
Implementing the solution: This phase would basically involve
a careful examination of the solution to be adopted and its realities.