1 / 7

Operations Research Linear Programming

Introduction and History of OR. Industrial RevolutionGrowing businessesDepartment divisionsLimited resourcesCame about during WWIIEffectively manage resourcesEfficiently deploy new toolsUS and British military asked scientists to apply this scientific method to deal with strategic and tactica

shaw
Download Presentation

Operations Research Linear Programming

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

    1. Group 3 Vahe Karapetyan Dena Rad Eidin Balali Patrick Njathi Zhong Zheng Damilare Adeoye Operations Research & Linear Programming

    2. Introduction and History of OR Industrial Revolution Growing businesses Department divisions Limited resources Came about during WWII Effectively manage resources Efficiently deploy new tools US and British military asked scientists to apply this scientific method to deal with strategic and tactical problems Success in Air Battle of Britain Battle of the North Atlantic OR improvement and implementation after the war Research for new methods Solving problems outside of the military Help of Computers Development of electronic digital computers Development of PCs in the 1980s

    3. Discipline of applying advanced analytical methods to help make better decisions Maximize the profit and minimize risk/cost All industries One department Each division OR analyst: Higher manager Show solution Decision making, planning, forecasting Work Around you Better scheduling of airline crew Waiting line at Disney OR and Methods

    4. “entire efficient/optimal solution” Manufacturing -- product choice Agriculture -- feed choice The Transportation Problem   Scheduling Finance Linear Programming

    5. Approaches and Problems Solved with OR

    6. Generally speaking, OR improves the effectiveness and the efficiency of an institution, hence some of the benefits offered by OR include: Decrease Cost or Investment Increase Revenue or Return on Investment Increase Market Share Manage and Reduce Risk Improve Quality Increase Throughput while Decreasing Delays Achieve Improved Utilization from Limited Resources Demonstrate Feasibility and Workability Benefits of OR

    7. Operations research has had an impressive impact on improving the efficiency of numerous organizations around the world and has done this by increasing the productivity of the economies of various countries. The goal of OR is to provide rational bases for decision making by seeking to understand and structure complex situations, and to utilize this understanding to predict system behavior and improve system performance. To arrive at this goal certain approaches and methods could be performed and applied. Linear Programming being an important method used in OR, it is very effective in finding optimal solutions to a problem. Whether it is used to maximize profits and production or reduce risks and costs, Linear Programming provides a simple method to solving these problems. Conclusion

More Related