The Introductory Study of Operations Research & Its Applications |

ABSTRACT:

Theterm ‘Operations Research’ (OR) describes the discipline that is focused on theapplication of information technology for informed decision-making. In otherwords, OR represents the study of optimal resource allocation. The goal of ORis to provide rational bases for decision making by seeking to understand andstructure complex situations, and to utilize this understanding to predictsystem behavior and improve system performance. Much of the actual work isconducted by using analytical and numerical techniques to develop and manipulatemathematical models of organizational systems that are composed of people,machines, and procedures. This article introduces some of the methods andapplication that are affiliated with OR, and elaborates on some of the benefitsthat may be gained by incorporating OR into the actual business framework.