Question

Provide a definition for operations research. Then provide at least three examples of the use of OR techniques that assisted a decision maker.

Answer 1

Operations research (OR) deals with obtaining effective and efficient methods for obtaining better solutions of our real life problems using mathematics. It is a discipline which deals with the application of advanced analytical methods to help make better decisions. It is often considered to be a sub-field of applied mathematics.

OR is widely used in Business Management

Examples:

-A project manager of an IT firm using OR techinques for project evaulation and profitablity

-Manager in Airline industry using it for routes and flight plans, crew scheduling and revenue management.

-People in Transportation for traffic light control , logistics and for controlling the network flow.