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What is Operations Research: Definition and Applications about?

Operations Research (OR) is a systematic approach to decision making that utilizes mathematical models and statistics to optimize resource use in various fields such as production management, transportation, inventory control, finance, and human resource management. However, OR has limitations including reliance on assumptions, ignoring human behavior, high implementation costs, and dependence on data quality. The scope of OR in production includes product mix decisions, production planning, machine schedul

Author

adityagrawal8770

Language

EN