management

1. Bharti kumari

2.  Originated during second world war.
 Organized application of modern science,
math's and computers techniques.
 Management of large systems of men,
materials, money and machines.
 Manage explicit quantitative understanding
and assessment of complex situation for best
decisions.
 Optimum solution to organizational problems.

3.  Understand real situation, capture and define problem.
 Formulate a mathematical model.
 Analog model which takes form of mechanical system.
 Symbolic model which is in the form of a matrix, a graph or
an equation.
 Probabilistic contain obvious recognition of uncertainty used
in advertising problems.
 In exact model chance and uncertainty plays very minor role
like long range production planning.
 Develop solution:- data, complete information & analyze
result. A solution for alternative policies.
 Interpret solutions meaningful, translate into decision.
 Implement the decision.
 Verify the result.

4.  Locating factories, warehouses, minimize
transportation cost.
 Work allocation to machines to min time & cost.
 Inventory problem
 Material handling
 Dealing with waiting times
 Equipment replacement
 Dividing advertising budget
 Establishing equitable bonus systems
 Routing of tankers
 Traffic control
 Petrochemical mixes
 Municipal and hospital administration
 Marketing etc.

5. Study
Translate into
Develop mathematical solution
Decision
Actual
situation
model
Decision
making

6. Classical operations research techniques
Military application to business problems
Resource allocation like crude oil
distribution to refineries, production
distribution, bombers placements etc.
To find best use of the limited resource
Allocation of scare resources
Maximize profit minimize overall cost

7. Objectives of an LP
Alternatives course of action
• To allocate among them its limited
resources
Resources must be in limited supply
• Restrictions or limits to resources
Objectives to be mathematically expressed