Role Of Operations Research in Business Decision Making
Year: 2012
Type: article
Abstract: This paper reviews the application of Operations Research to the business organizations to take the effective decisions. To find the reasons for the attractiveness of general business problems to OR researchers, the main type of business decision making problems amenable to OR are identified, and some of the many problems solved by using OR are techniques. While mathematical programming is the most widely applied technique, linear programming, transportation, assignment and simulation methods are increasingly widely used. OR now plays an important role in the operation of business problem solving and this importance is likely to increase, creating the opportunity for OR to play an even greater role. This paper indicates that OR techniques play an important role in business organizations and, with the recent dramatic improvements in the real time availability of data and in computer speed, this role will increase.
Author: N. Santosh Ranganath
Language: English
Subfield: Strategy and Management
Domain: Social Sciences
Open Access status: diamond
OpenAlex ID: W2016562476