In today’s world where decision-making does not depend on intuition, managerial techniques are widely used. All applications of OR cannot be listed as OR as a tool finds new application every day. It finds typical applications in many activities related to work planning. Some important applications are:
1. Manufacturing/Production
- Production planning and control
- Inventory management.
2. Facilities Planning
- Design of logistic system
- Factory/buildinglocation and size decisions
- Transportation loading and unloading
- Planning warehouse locations.
3. Accounting
- Credit policy decisions
- Cash flow and fund flow planning.
4. Construction Management
- Allocation of resources to different projects in hand
- Workforce/labour planning
- Project management (scheduling, monitoring and control).
5. Financial Management
- Investment decision
- Portfolio management.
6. Marketing Management
- Product-mix decisions
- Advertisement/Promotion budget decisions
- Launching new product decisions.
7. Purchasing Decision
Inventory management (optimal level of purchase), Optimal re-ordering.
8. Personnel Management
- Recruitment and selection of employees:
- Designing training and development programmes
- Human resources planning (HRP).
9. Research and Development
- Planning and control of new Rand D projects.
- Product launch planning.
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