Quantitative Techniques for Managers  AKTU 2 Sem

1 Operation research meaning and significance

•Operations Research (OR) is a problem-solving approach that helps businesses and organizations make better decisions. It uses mathematical and analytical techniques to figure out the best solutions to complex problems. Imagine it like a toolkit that helps managers find the most efficient and effective ways to do things.

•Operations Research (OR) is a systematic and structured approach to solving problems and making decisions. It’s like using a set of tools and techniques to unravel intricate puzzles. OR combines mathematics, statistics, computer science, and other disciplines to create models that represent real-world situations.