Definition of Operations Research (OR): Operations Research (OR), also known as operational research or management science, is a field of study that applies mathematical, analytical, and scientific methods to help individuals and organizations make better decisions and solve complex problems. OR focuses on modelling, analyzing, and optimizing various processes and systems to improve efficiency, resource allocation and decisionmaking. It often involves the use of computer-based simulations, mathematical models, and data analysis techniques to provide visions and solutions. Scope of Operations Research: The scope of Operations Research is wide-ranging and includes various domains and industries. Here are some key aspects within the scope of OR: 1. Mathematical Modelling : OR involves the development of mathematical models that represent real-world systems, allowing for the analysis of complex interactions and relationships. 2. Optimization: A core aspect of OR is optimization, which...
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Showing posts from October, 2023