Operations Research - Definition
According to Philip McCord Morse together with George E. Kimball,
"Operations inquiry is a scientific method of providing executive departments alongside a quantitative footing for decisions regarding the operations nether their control."
According to Russell L. Ackoff together with C. West Churchman,
"Operations inquiry is the application of scientific methods to brand it at the optimal solutions to the problems."
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Meaning of Operations Research
Operations inquiry OR way to apply scientific together with mathematical methods for decision making together with occupation solving.
OR does non furnish decisions else it provides quantitative information to the managers. The managers utilisation this information for making decisions.
OR tries to detect ameliorate solutions to dissimilar problems. Hence, it is used to solve complex management problems.
OR helps to lead maintain decisions near operations together with production.
OR was start used during the Second World War past times England to solve their complex state of war problems. England made OR teams. These teams included proficient mathematicians, statisticians, scientists, engineers, etc. These OR teams were real successful inward solving England's state of war problems. Therefore, United States of America of America (USA) likewise started using OR to solve their state of war problems. After the war, before long industries together with businesses likewise started using OR to solve their complex management problems.
Features of Operations Research
The principal characteristics or features of operations inquiry (OR) are:-
- Creating a Model : OR start makes a model. Influenza A virus subtype H5N1 model is a logical representation of a problem. It shows the relationships betwixt the dissimilar variables inward the problem. It is merely similar a mathematical formula.
For e.g. Assets - Liabilities = Capital + Accumulated Reserves. - Shows Important Variables : OR shows the variables which are of import for solving the problem. Many of the variables are uncontrollable.
- Symbolises the Model : The OR model, its variables together with goals are converted into mathematical symbols. These symbols tin sack hold upwards easily identified, together with they tin sack hold upwards used for calculation.
- Achieving the Goal : The principal destination of OR is to lead the best solution for solving the problem.
- Quantifying the Model : All variables inward the OR model are quantified. That is, they are converted into numbers. This is because exclusively quantified information tin sack hold upwards pose into the model to larn results.
- Using Mathematical Devices : Data is supplemented alongside mathematical devices to narrow downwards the margin of error.
- Use of Computer : The principal focus is on decision-making together with occupation solving. For this role computers are widely used.
- Interdisciplinary : OR is interdisciplinary, because it uses techniques from economics, mathematics, chemistry, physics, etc.
- Highest Efficiency : The principal aim of OR is to brand decisions together with solve problems. This results inward the highest possible efficiency.
Limitations of Operations Research
The demerits or limitations of operations inquiry (OR) are depicted below.
- Costly : Operations Research (OR) is real costly. This is because OR makes mathematical models for taking decisions together with solving problems. The companionship has to brand diverse models for solving dissimilar problems. All this increments the cost.
- Not Realistic : OR experts brand real complex models for solving problems. These models may non hold upwards realistic. Hence, they may non hold upwards useful for real-life situations.
- Complex : OR is real complex concept. It is real hard for an average director to empathise it. Therefore, most managers practise non utilisation OR techniques.
