[Download] ~ Effectiveness of OR in Real-Life Applications for Better Returns. by Asia-Pacific Business Review ~ Book PDF Kindle ePub Free
eBook details
- Title: Effectiveness of OR in Real-Life Applications for Better Returns.
- Author : Asia-Pacific Business Review
- Release Date : January 01, 2008
- Genre: Business & Personal Finance,Books,
- Pages : * pages
- Size : 253 KB
Description
Introduction Operations Research (OR) is concerned with scientific and technological thinking on aspects of human affairs with respect to usage of resources in day-to-day human activities arising in commerce, government and industry. In OR, solely the aim has been to improve the utilization of resources to maximize profits. Number of situations have been discussed by Ahuja et al., (1993), Checkland and Scholes (1991), Fang and Puthenpura (1993). Another independent field dealing with maximizing returns is revenue maximization (RM), a concept from the field of commerce. For a detailed account of RM has been provided by Browning and Kumar (2003). The OR and RM have developed their own methodology, strategies and both have many success claims. Since they share a common goal, there must be room for OR methodology to enrich RM or alternatively. There is a need for better integration of these two fields. Mathematical optimisation and quantitative approaches of OR may provide better insight to RM and similarly concepts of RM may contribute further to the development of OR and its applications. Visible progress of OR is imminent in management of public and private sectors arising from activities relating to government, commerce and industry.
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