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Operations Research allows selecting a perfect course of action between various available courses of action. In Operations Research, there are various analytical methods that are designed to help the decision makers. Much part of this work is done with the help of using numerical techniques and analytical method.
Generally, the OR models are solved by the following three methods:
1. Analytical method -This method involves mathematical calculations and graphs to solve an operations research problem.
2. Numerical method - It is used when analytical method fails to provide better solution. In the problems where a lot of numerical calculations and complicated constraints are to be applied to get the solution we use this method.
3. Monte Carlo Method - This method puts values at different timepoints under different conditions and then finds impact on the criteria chosen for variables.
The main advantage of these OR models are to save enough time and effort by developing a suitable model and solving the same using logical and consistent approach. The decision maker should understand the problem before selecting a mathematical model, which would help them to solve the problem easily. You can contact us for a customized writing for operational research assignment. Our tutors are available for instant help for all the problems and assignments.
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We use advances analytical techniques to improve decision making. When there exist many options, and comparing becomes difficult, optimization technique is the best to apply.
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THE OPERATION RESEARCH APPROACH
Our Operation Research assignment help experts describe the steps as:
- Orientation- Operation research approach's first step is problem orientation. The main focus is to identify where the problem actually lies and it also makes sure that all members know each and every issue
- Problem definition- This is one of the most complex step of operations research approach. The reason behind its difficulty is, it is an enhancement of the orientation step. After identifying the problem, this step aims at to find out a problem and determine the result of the root cause.
- Data collection-In the third step, data is collected to resolve the issue with real solutions. In this case data get collected by observing the system and standards are derived from the technology of the system
- Model formulation- It is also an important phase. Here the model is defined as the characteristic of all operation research projects. Model is formulated based on data collection.
The models are classified into four types:
- Physical model
- Analogic model
- Computer simulation model
- Mathematical model
- Model solution- It relates to a huge amount of research and development in operation research.
- Model validation and output analysis- This involves verification of the solution and suggest the "what-if" condition
- Implementation and monitoring- Implementation of the conclusion and recommendation is the last step of research process. This process of implementation requires a team for development and implantation of the plan.
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