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Explain Operations research in production planning and inventory control?
Wiki User
∙ 14y ago
Operations management is an area of business that is concerned with the production of good quality goods and services, and involves the responsibility of ensuring that business operations are efficient and effective. It is the management of resources, the distribution of goods and services to customers.
The task of production and operations management is to manage the efforts and activities of people, capital, and equipment resources in changing raw materials into finished goods and services.
Wiki User
∙ 14y ago
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What is the importance of operation research in business decision?
Operations research helps a business to make decisions regarding crucial aspects like cues or the order of production of certain materials. The analytical methods applied aid in industrial production and wartime planning.
What has the author Norbert Wittemann written?
Norbert Wittemann has written: 'Produktionsplanung mit verdichteten Daten' -- subject(s): Data processing, Operations research, Production planning
Difference between operations research and operation management?
Operations research deals with the application of advanced analytical methods. Operations management involves managing and directing the processes of development, production, manufacturing.
What are the basic objectives of operations research?
Planning, control, apt, databases, stains, porter, ganado
The principles of modelling in operations research?
principles of modelling in Operations Research principles of modelling in Operations Research principles of modelling in Operations Research
What is Importance of operations research in decision making?
Operations research is a scientific discipline that managers use to make informed decisions for their operations. It draws heavily from math, statistics and science. Operations managers use this extensively to schedule and assemble their production functions. Operations research is primarily used in the manufacturing, oil, energy and telecommunication industries.HistorySignificanceOperations research was first developed in the 1940s, during and after World War II. FeaturesCompanies use operations research to devise ways and means to maximize their profits and restrict their losses and risks. The company is able to zero down on the most optimum levels of production. Also, they devise means to produce at lower costs or produce more quantities at the same costs. BenefitsThe operations manager is able to evaluate the various available routes for production and fix the most feasible and practical one. He tries to derive the maximum output with the minimum possible input. LimitationOperations research is very beneficial to the managers in deciding what to produce, the quantities, the methods of production, which employees to engage in the production processes and the marketing schemes of the produced goods.The main limitation of operations research is that it often ignores the human element in the production process. This science is technology driven and does not take into account the emotional factors and absenteeism of the employees.
Departments of a typical business?
Sales and Marketing Financial or Accounting Research and Development Human Resources Operations or Production
MBA semester 2 operations research assignments?
Explain the scope of Operations Research. What are the features of Operations Research?
What is the role of operations research in banks?
"What is the role of operations research in banks?"
Applications of Operations Research?
Applications of OR 1.Finance and Accounting 2.Marketing 3.Production Management 4.Purchasing,Procurement and Exploitation 5.Personal Management 6.Techniques and General Management 7.Government
When was Mathematics of Operations Research created?
Mathematics of Operations Research was created in 1976.
Different Scopes of application of operations research?
define the scope of operations research
