"The term management science is occasionally used as a synonym."
Quantitative techniques for modeling and optimizing complex systems, including linear programming, queuing theory, and simulation.
Linear programming: A method of optimizing a linear objective function subject to linear constraints.
Non-linear programming: A method of optimizing a non-linear objective function subject to non-linear constraints.
Integer programming: A method of optimizing an integer objective function subject to integer constraints.
Network optimization: A method of optimizing networks for efficient use of resources.
Queuing theory: A method of analyzing waiting lines and queue systems.
Simulation: A method of modeling and solving complex systems and processes.
Decision analysis: A method of evaluating potential decisions and selecting the best course of action.
Game theory: A method of studying strategic decision-making in situations of competition or conflict.
Multi-objective optimization: A method of optimizing multiple conflicting objectives simultaneously.
Stochastic processes: A method of modeling random processes and analyzing their behavior.
Supply chain management: A method of managing the flow of goods and services from suppliers to customers.
Production scheduling: A method of scheduling production processes to optimize efficiency and minimize downtime.
Inventory control: A method of managing inventory levels and optimizing ordering and stocking policies.
Facility layout and location: A method of designing and locating facilities to optimize performance.
Quality control: A method of ensuring that products and processes meet specified quality standards.
Robust optimization: A method of optimization that takes into account uncertainty and variability in input data.
Transportation optimization: A method of optimizing transportation systems, including routing, scheduling, and vehicle selection.
Project management: A method of managing projects from inception to completion, including planning, scheduling, and budgeting.
Forecasting: A method of predicting future trends and events based on historical data and statistical analysis.
Heuristics and meta-heuristics: A method of solving complex optimization problems using algorithms based on trial-and-error search methods.
Linear Programming: Linear programming is a method to optimize a linear objective function with some constraints. It is used to determine the minimum or maximum value of a linear function, given a set of linear inequalities.
Integer Programming: Integer programming is a technique used to optimize an objective function that involves integer variables. This method is used to determine the optimal solution to a problem under constraints where the decision variables must be integer.
Network Analysis: Network analysis is a method used to analyze the interrelationships among the different elements of a system. It is used to identify critical paths, project scheduling, and resource allocation.
Decision Analysis: Decision analysis is a technique used to evaluate different alternatives based on the consequences of each option. It helps in making informed decisions that can lead to better outcomes.
Dynamic Programming: Dynamic programming is a method used to solve complex problems that involve a sequential decision process. It is used to optimize the solution for each stage of the problem.
Simulation: Simulation is a technique used to model real-world situations in a virtual environment. It is used to test different scenarios and predict the outcomes of different decisions.
Stochastic Models: Stochastic models are used to analyze random events in a system. It helps to consider various risk factors and identify potential problems in the system.
Queuing Theory: Queuing theory is a method used to analyze waiting lines and queuing systems. It is used to optimize system performance by reducing waiting time and increasing throughput.
Game Theory: Game theory is a technique used to model strategic decision making between two or more players. It is used to analyze the possible outcomes of different strategies and help in making decisions based on the players' objectives.
Nonlinear Programming: Nonlinear programming is a method used to optimize an objective function that is not linear. It helps in solving problems that have nonlinear constraints and objectives.
"...deals with the development and application of analytical methods to improve decision-making."
"Employing techniques from other mathematical sciences, such as modeling, statistics, and optimization."
"...arrives at optimal or near-optimal solutions to decision-making problems."
"...operations research has overlapped with many other disciplines, notably industrial engineering."
"Operations research is often concerned with determining the extreme values of some real-world objective."
"...the maximum (of profit, performance, or yield) or minimum (of loss, risk, or cost)."
"Originating in military efforts before World War II..."
"...its techniques have grown to concern problems in a variety of industries."
"...often shortened to the initialism OR."
"Operations research (British English: operational research)."
"(U.S. Air Force Specialty Code: Operations Analysis)."
"...employing techniques from other mathematical sciences, such as modeling, statistics, and optimization."
"...analytical methods to improve decision-making."
"...operations research has overlapped with many other disciplines, notably industrial engineering."
"Arrives at optimal or near-optimal solutions to decision-making problems."
"Originating in military efforts before World War II..."
"...its techniques have grown to concern problems in a variety of industries."
"The term management science is occasionally used as a synonym."
"...the maximum (of profit, performance, or yield) or minimum (of loss, risk, or cost)." Quotes: