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IMPORTANT APPLICATIONS OF OR

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.