The Book has been widely acknowledged the importance of Operations Research/Quantitative Techniques in decision-making. The need for a thorough understanding of various Operations Research Techniques by the students of management cannot be overemphasized. Present book is an attempt to provide a means for such understanding by concise explanation of the concepts and numerous solved examples and illustrations.
This book: “Elements of Operations Research’’ has been designed as an introductory text to the world of Operations Research. Primarily, it has been written for B.Com and BBA students of Madras University and Guru Nanak Dev University, Amritsar, yet the book will be suitable for the similar undergraduate and postgraduate courses in Operations Research/Quantitative techniques of other universities.
- The book covers complete syllabus in Operations Research for BBA, B.Com and M.Com of almost all the Universities.
- There are detailed self-contained chapters on all the syllabus elements.
- The text uses simple language, lucid style, cogent presentation, and clarity of exposition.
- The text begins with chapter 1 highlighting the importance, modelling, methodology, applications and scope of Operations Research in business and industry.
- Chapter 2 concentrates on the formulation of practical problems (based on real life situations) in the format of linear programming problems. Chapter 3 and 4 deal with the development of solution methods of various linear programming problems.
- The special class of linear programming problems: Transportation and Assignment problems are discussed in Chapter 5 and 6 respectively.
- The concept of network in scheduling techniques using PERT/CPM methods are discussed in chapter 7.
- Decision-making rules under uncertainty, under risk and decision trees are discussed in chapter 8, while decision-making problems under conflict (Game Theory) are dealt with in chapter 9.
- Chapter 10 introduces the concept of queuing system, wherein elements of queuing process and Poisson Queuing Models are discussed
- The concept of inventory in industry, its various types, and Economic Order Quantity (EOQ) are given in Chapter 11. EOQ models with and without price-breaks are discussed in detail.
- Chapter 12 is devoted to replacement decisions. This chapter also include problems related to recruitment and promotion.
- Chapter 13 on “Operations Scheduling” i.e., Sequencing has been dealt with at greater length owing to its increasing importance in the current business environment.
- Decision-Making and Operations Research
- Linear Programming
- Linear Programming Problem — Solution Methods
- Duality in Linear Programming
- Transportation Problem
- Assignment Problem
- Network Analysis – PERT/CPM
- Decision Theory
- Game Theory
- Queuing Models
- Inventory Control
- Replacement Decisions
- Sequencing: Operations Scheduling