L0_10_intro - ESI 6314 Deterministic Methods in Operations...

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Unformatted text preview: ESI 6314 Deterministic Methods in Operations Research Lecture Notes on Section 1 University of Florida Department of Industrial and Systems Engineering / REEF Introduction to Modeling Operations Research Goals What is Operations Research? Operations Research (also referred to as Management Science) is a scientific (mathematical) approach to decision making that aims at finding the best way to design and operate a system, usually under conditions requiring the allocation of scarce resources. A system (in a broad sense) is a set of (interdependent) components that work together to achieve the goal of the system. The goal can be maximizing profit or other performance measures, minimizing cost, etc. Introduction to Modeling Operations Research Goals Mathematical modeling Mathematical models are widely utilized in the scientific approach to decision making. A mathematical model is a mathematical representation of an actual situation that can provide insights into understanding the situation and making better decisions. Example Eli Daisy produces the drug Wozac in huge batches by heating a chemical mixture in a pressurized container. Each time a batch is processed, a different amount of Wozac is produced. The amount produced is the process yield (measured in pounds). Daisy is interested in understanding the factors that influence the yield of the Wozac production process. Introduction to Modeling Operations Research Goals Mathematical modeling Mathematical models are widely utilized in the scientific approach to decision making. A mathematical model is a mathematical representation of an actual situation that can provide insights into understanding the situation and making better decisions....
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L0_10_intro - ESI 6314 Deterministic Methods in Operations...

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