Management Applications of Operation Research
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1) Allocation and Distribution in Projects
- Optimal allocation of resources such as men materials, machines, times and money to projects.
- Determination and deployment of proper workforce.
- Project scheduling, monitoring and control.
2) Production and Facilities Planning
- Factory size and location decision.
- Estimation of number of facilities required.
- Scheduling and sequencing of production runs by proper allocation of machines.
- Transportation loading and unloading.
3) Programmes Decisions
- What, When and How to purchase to minimize procurement cost.
- Bidding and replacement policies.
4) Marketing
- Advertising budget allocation.
- Product introduction timing.
- Selection of advertising media.
- Selection of product mix.
- Customer's preference of size, color and packaging of various product.
5) Organization Behavior
- Selection of personnel, determination of retirement age and skills.
- Recruitment policies and assignment of jobs.
- Recruitment of employees.
- Scheduling of training programs.
6) Finance
- Capital requirements, cash flow analysis.
- Credit policies, credit risks, etc.
- Investment decision.
- Profit plan for the company.
7) Research and Development
- Product introduction planning.
- Control of areas for research and development.
- Selection of projects and preparation of their budgets.
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