Operations research is a branch of mathematics which uses statistics, mathematic models, logic, analytical skills, algorithms to obtain the optimum feasible solution for a complex problem, which could range from a diverse nature from maxima to minima. The maximization of profit, yield, sales, etc; and minimization of costs to company, transportation cost, lowering the risk.
Operations Research is not only a subject of maths, but in short, it is an art and science for the cost optimization. The fields of operations research varies from industrial engineering, mathematics, stastics , market research and upto in infinite dimensions.
The very basic tools of Operations research are game theory, simulation, queueing theory, statistics, graph theory, optimization, transportation problems,linear programming, probabilty,PERT, CPM, etc.
The problem is not a new term for any organization and hence operations research. If there is a severe problem in any organization, they would surely try to make use of operations research. One of the most important tenhnique for a problem solving, otherwise, the problems could be very cumbersome for the organization.
SCOPE:
* Design of the layout of the company.
* Roboticizing or automating human-driven operations processes.
* Road traffic management and ‘one way’ street allocations i.e. allocation problems.
* Optimum transportation cost, by making use of matrix arrangements.
* Used in military applications to render the informations in coded/decoded terms, so as to save the communication from leakage.
* The best way to control the inventory of the organization.
* Managing the flow of raw materials and products in a supply chain based on uncertain demand for the finished products.
* Globalizing operations processes in order to take advantage of cheaper materials, labor, land or other productivity inputs.
The Related fields with Operations Research could be:
- Industrial Engineering
- Industrial organizations
- Management science
- Managerial economics
- Search Based Software Engineering
- Simulation
- System Dynamics
- Systems theory.
The study for a subject is always vast and it grows day by day, so everyone must have to be in touch of the subject till death. Find the solution for the problem and be an operational analyst. The most interesting subject, till date, would surely reach all its heights in few years, even tough, its a very new concept in India.
With Regards
Sandeep Sinha
The Renaissance 