Operation Research
Winter 2013
Master of Business Administration- MBA Semester 2
MB0048 – Operations Research - 4 Credits
(Book ID: B1631)
(Roll no: 1305009661)
Q.1: Discuss the various stages involved in the methodology of Operations Research. Briefly explain the techniques and tools of Operations Research.
Ans: The basic dominant characteristic feature of operations research is that it employs mathematical representations or models to analyse problems. This distinct approach represents an adaptation of the scientific methodology used by the physical sciences.
OR methodology consists of five steps. They are defining the problem, constructing the model, solving the model, validating the model, and implementing the result.
Definition: The first and the most important step in the OR approach of problem solving is to define the problem.
Construction: based on the problem definition, you need to identify and select the most appropriate model to represent the system.
Solution: After deciding on an appropriate model, you need to develop a solution for the model and interpret the solution in the context of the given problem.
Validation: A model is a representation of a system, however, the optimal solution must work towards improving the system’s performance.
Implementation: You need to apply the optimal solution obtained from the model to the system and note the improvement in the performance of the system.
Techniques and tools of operation research:
Linear programming: You can use linear programming to find a solution for optimising a given objective. The objective may be to maximize profit or to minimize cost.
Inventory control methods: The production, purchasing, and material managers are always confronted with questions, such as when To buy, and how much to keep in stock.
Goal programming: In linear programming , you take a single objective function and consider all other factors as constraints.
Queuing model: The queuing theory is based on the concept of
Master of Business Administration- MBA Semester 2
MB0048 – Operations Research - 4 Credits
(Book ID: B1631)
(Roll no: 1305009661)
Q.1: Discuss the various stages involved in the methodology of Operations Research. Briefly explain the techniques and tools of Operations Research.
Ans: The basic dominant characteristic feature of operations research is that it employs mathematical representations or models to analyse problems. This distinct approach represents an adaptation of the scientific methodology used by the physical sciences.
OR methodology consists of five steps. They are defining the problem, constructing the model, solving the model, validating the model, and implementing the result.
Definition: The first and the most important step in the OR approach of problem solving is to define the problem.
Construction: based on the problem definition, you need to identify and select the most appropriate model to represent the system.
Solution: After deciding on an appropriate model, you need to develop a solution for the model and interpret the solution in the context of the given problem.
Validation: A model is a representation of a system, however, the optimal solution must work towards improving the system’s performance.
Implementation: You need to apply the optimal solution obtained from the model to the system and note the improvement in the performance of the system.
Techniques and tools of operation research:
Linear programming: You can use linear programming to find a solution for optimising a given objective. The objective may be to maximize profit or to minimize cost.
Inventory control methods: The production, purchasing, and material managers are always confronted with questions, such as when To buy, and how much to keep in stock.
Goal programming: In linear programming , you take a single objective function and consider all other factors as constraints.
Queuing model: The queuing theory is based on the concept of