Master the Art of Debates: Learn, Watch, Judge & Decide
Delve into the world of debates with a step-by-step guide on preparation, observation, evaluation, and decision-making. Explore the importance of flowsheets, scripts, and peer feedback to enhance your debating skills. Witness engaging debates, analyze arguments, and hone your critical thinking abilities to become a proficient debater.
Download Presentation
Please find below an Image/Link to download the presentation.
The content on the website is provided AS IS for your information and personal use only. It may not be sold, licensed, or shared on other websites without obtaining consent from the author.If you encounter any issues during the download, it is possible that the publisher has removed the file from their server.
You are allowed to download the files provided on this website for personal or commercial use, subject to the condition that they are used lawfully. All files are the property of their respective owners.
The content on the website is provided AS IS for your information and personal use only. It may not be sold, licensed, or shared on other websites without obtaining consent from the author.
E N D
Presentation Transcript
NAZARETH COLLEGE OF ARTS AND SCIENCE Affiliated to University of Madras Re-accredited by NAAC with B Grade DEPARTMENT OF MATHEMATICS
Academic Year: 2022 2023 Semester: Even Subject Name: Elements of OR Class: II B.COM(A) Topic Name: Introduction to OR, Function, Limitation Name of the Faculty: D.Femila Jayaseeli
Introduction The British/Europeans refer to Operational Research , the Americans to Operations Research but both are often shortened to just OR . Operation Research is a relatively new discipline. Operation Research tools are not from any one discipline. Operations Research takes tools from different discipline such as mathematics, statistics, economics, psychology, engineering etc. and combines these tools to make a new set of knowledge for decision making.
Today, O.R becomes a professional discipline which deals with the application of scientific methods for decision and especially to the allocation of resources. OR is an analytical method of problem solving and decision making that is useful in the management of organizations. Operation Research can also be treated as science in the sense it describing, understanding and predicting the system behaviour, especially man machine system. It is an optimisation techniques used to solve problems.
Definition OR is defined as the art of winning wars without actually fighting by D.Clarke. OR is the application of scientific methods technique and tools to problems involving the operations of system so as to provide those in control of the operations with optimum solution to problem - by Acoff Annoff Churchman
Characteristics or Features of OR Creating a Model: OR first makes a model. A model is a logical representation of a problem. It shows the relationships between the different variables in the problem. It is just like a mathematical formula. Symbolizes the Model: The OR model, its variables and goals are converted into mathematical symbols. These symbols can be easily identified, and they can be used for calculation. Quantifying the Model: All variables in the OR model are quantified (ie.,) they are converted into numbers. This is because only quantified data can be put into the model to get results.
Using Mathematical Devices: Data is supplemented with mathematical devices to narrow down the margin of error. Achieving the Goal: The main goal of OR is to select the best solution for solving for problem. Interdisciplinary: OR is interdisciplinary, because it uses techniques from economics, mathematics, chemistry, physics, etc
Highest Efficiency: The main aim of OR is to decisions and solve problems. Application or Scope or Uses of OR In Agriculture Optimum allocation of land to a variety of crops as per the climatic conditions. Optimum distribution of water from numerous resources like canal irrigation purposes.
In Finance To determine the profit plan for the company. To maximize the per capita income with least amount of resources. To decide on the best replacement policies, etc In Industry If the industry manager makes his policies simply on the basis of his past experience and a day approaches when he gets retirement, then serious loss is encounter ahead of the industry. OR is helpful for the director in deciding optimum distribution of several limited resources like men, machines, materials, etc to reach at the optimum decision.
In Marketing Where to allocate the products for sale so that the total cost of transportation is set to be minimum. The minimum per unit sale price. The size of the stock to come across with the future demand. How to choose the best advertising media with respect to cost, time etc? How, when and what to buy at the minimum likely cost?
In Personnel Management To appoint the highly suitable person on minimum salary. To know the best age of retirement for the employees. To find out the number of persons appointed in full time basis when the workload is seasonal.
In Production Management To calculate the number and size of the items to be produced. In scheduling and sequencing the production machines. In computing the optimum product mix. To choose, locate and design the sites for the production plans.
In L.I.C What should be the premium rates for a range of policies? How well the profits could be allocated in the cases of with profit policies? Roles of Computers in OR Computers have played a critical part in the development of OR. But OR would not have accomplished its current position for the use of computers. The reason is in most of the OR techniques calculations are so complicated and involved that these methods would be of no use without computers.
Many large scale uses of OR techniques which needs only few minutes on the computer may take months, weeks and sometimes even years to give the same results manually. So the computers has become important and basic part of OR. Nowadays, OR methodology and computer methodology are increasing simultaneously. It appears that in the near future the line which divides the two methodologies will vanish and the two sciences will combine together to form a more universal and comprehensive science.
Role of Operations Research in Decision Making Better Control The management of large concerns finds it much expensive to give continuous executive supervisions over routine decisions. An OR approach directs the executives to dedicate their concentration to more pressing matters. For instance, OR approach handles production scheduling and inventory control.
Better coordination Sometimes OR has been very helpful in preserving the law and order situation out of disorder. For instance, an OR based planning model turns out to be a vehicle for coordinating marketing decisions with the restrictions forced on manufacturing capabilities.
Better System OR study is also initiated to examine a particular problem of decision making like setting up a new warehouse. Later OR approach can be more developed into a system to be employed frequently. As a result the cost of undertaking the first application may get better profits.
Better Decision OR models regularly give actions that do enhance an intuitive decision making. Sometimes a situation may be so complex that the human mind can never expect to assimilate all the significant factors without the aid of OR and computer analysis.
Limitations of OR Dependence on an Electronic Computer: OR techniques try to find out an optimal solution taking into account all the factors. Non Quantifiable Factors: OR techniques provide a solution only when all the elements related to a problem can be quantified. Distance between Manager and Operations Research: OR being specialist s job requires a mathematician or a statistician, who might not be aware of the business problems.
Money and Time Costs: when the basis data are subjected to frequent changes, incorporating them into the OR models is a costly affair. Implementation: Implementation of decision is a decision task. It must take into account the complexities of human relations and behaviour.
