{[ promptMessage ]}

Bookmark it

{[ promptMessage ]}

set1_LP - Chapter 1 Introduction to Model Building What is...

Info icon This preview shows pages 1–10. Sign up to view the full content.

View Full Document Right Arrow Icon
Chapter 1 Introduction to Model Building
Image of page 1

Info icon This preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
What is Operations Research? What is Management Science? World War II : British military leaders asked scientists and engineers to analyze several military problems Deployment of radar Management of convoy, bombing, antisubmarine, and mining operations. The result was called Military Operations Research , later Operations Research MIT was one of the birthplaces of OR Professor Morse at MIT was a pioneer in the US Founded MIT OR Center and helped found ORSA
Image of page 2
What is Management Science (Operations Research)? Today : Operations Research and Management Science mean “the use of mathematical models in providing guidelines to managers for making effective decisions within the state of the current information, or in seeking further information if current knowledge is insufficient to reach a proper decision.” Decision science, systems analysis, operational research, systems dynamics, operational analysis, engineering systems, systems engineering, and more.
Image of page 3

Info icon This preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Voices from the past Waste neither time nor money, but make the Waste neither time nor money, but make the best use of both. best use of both. Benjamin Franklin Benjamin Franklin Obviously, the highest type of efficiency is that which can utilize existing material to the best advantage. Jawaharlal Nehru It is more probable that the average man could, with no injury to his health, increase his efficiency fifty percent. Walter Scott
Image of page 4
Operations Research Over the Years 1947 Project Scoop (Scientific Computation of Optimum Programs) with George Dantzig and others. Developed the simplex method for linear programs. 1950's Lots of excitement, mathematical developments, queuing theory, mathematical programming. A.I. in the 1960's 1960's More excitement, more development and grand plans. A.I. in the 1980's.
Image of page 5

Info icon This preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Operations Research Over the Years 1970's Disappointment, and a settling down. NP- completeness. More realistic expectations. 1980's Widespread availability of personal computers. Increasingly easy access to data. Widespread willingness of managers to use models. 1990's Improved use of O.R. systems. Further inroads of O.R. technology, e.g., optimization and simulation add-ins to spreadsheets, modeling languages, large scale optimization. More intermixing of A.I. and O.R.
Image of page 6
Operations Research in the 00’s LOTS of opportunities for OR as a field Data, data, data E-business data (click stream, purchases, other transactional data, E-mail and more) Need for more automated decision making Need for increased coordination for efficient use of resources (Supply chain management)
Image of page 7

Info icon This preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Optimization is everywhere Models, Models, Models The goal of models is “insight” not numbers paraphrase of Richard Hamming Algorithms, Algorithms, Algorithms
Image of page 8
Optimization is Everywhere It is embedded in language, and part of the way we think.
Image of page 9

Info icon This preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Image of page 10
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern