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WEEK 9
TOPIC: OPERATIONS RESEARCH
CONTENT:
Definition, History and nature of operations research
Steps in operations research
Models of operations research:
- Linear programming models
- Transportation models (least cost and North Westcorner)
- Assignment models
Practical application of the models.
Definition, History and nature of operations research
Operations research is called decision science or management science. It is the application of scientific especially mathematical methods to the study and analysis of complex decision-making problems. It also means a mathematical science which is concerned with determining the maximum (of profit, performance or yield) or minimum (of loss, risk or cost) of some real – world objective.
In a nutshell, operations research is an area of study which applies mathematics and statistics to problems of management, industry, business, commerce, organization and production.
There are many techniques that operations research employs from other mathematical sciences such as mathematical modelling, statistical analysis and mathematical optimization to mathematical treatment of a process, problem or operation to determine its purpose with a view to gaining maximum efficiency. The common characteristic of operations research is maximization of profit, performance or yield on one hand or minimization of loss, risk or cost on the other hand. The use of operations research was first known in 1945. Operations research originated in the effort of military planners during the second world war as a formal discipline. Charles Babbage used the principles or techniques of operations research intuitively (able to understand situations without being told) in his research into the cost of transportation and sorting of mail which led to England’s universal “penny cost” in 1840.
A Scientist, Percy Bridgman also used operations research techniques to solve problems in physics and made attempt to extend it to social sciences. Scientists in the United Kingdom and United States of America began to look for ways of making better decisions in such areas as logistics and training schedules during the Second World War.
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