Real-life Application of Math in Operation Research

What is Operations Research ?

The field of operations research (OR) employs analytical and quantitative techniques to address challenging decision-making issues in a range of business contexts.

What are some common OR techniques ?

Linear programming, integer programming, simulation, queueing theory, and game theory are examples of common OR approaches.

How does OR benefit businesses ?

OR assists companies in streamlining operations, cutting expenses, increasing productivity, and making data-driven choices that lead to improved results.

Can OR be applied to service industries ?

Yes, OR is frequently used to improve resource allocation and customer experience in service industries like retail, healthcare, banking, and telecommunications.

What is linear programming in OR ?

Resource allocation and production planning frequently use linear programming, an OR approach that entails optimising a linear objective function according to linear constraints.

How does OR help in transportation ?

In order to ensure prompt and economical delivery, OR helps manage fleet schedules, optimise transportation routes, and save logistics expenses.

Is OR only applicable in large organizations ?

No, OR may be used to increase productivity, streamline processes, and make better decisions in businesses of all sizes.

The field of operations research (OR) employs statistical analysis, mathematical models, and optimisation strategies to address challenging decision-making issues in a range of sectors. It first appeared in World War II, when resource allocation and strategic planning were necessary for military operations. It has now spread into a wide range of industries, including manufacturing, banking, logistics, healthcare, and more. OR aids businesses in streamlining operations, cutting expenses, and increasing efficiency by offering data-driven insights and solutions.