Unit -1
Introduction to Decision Science/Operation Research 1. Operation Research/Decision science means, it is winning the war without fighting.
2. Operation research gives the bad answer otherwise first solution given to the problem.
Models of Decision Science
Model is a reality of problem expressed in function. If the model is formed, we can apply formulas.
Types of Models –
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Linear Programming Problem (LPP)
Assignment problem/Model
Transportation Model
Waiting of Line
Game Theory
Simulation
Marco Process
Replacement model
Inventory Model
Application of Decision Science –
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Operation Management
Financial Management
Accounting
Allocation of resources
Research and Development (R&D)