Operations Research (ePub)

Operations research encompasses a wide range of problem-solving techniques and methods applied in the pursuit of improved decision-making and efficiency. Some of the tools used by operations researchers are statistics, optimization, probability theory, queuing theory, game theory, graph theory, decision analysis, mathematical modeling and simulation. An Information System is any combination of information technology and people's activities using that technology to support operations, management, and decision-making. In a very broad sense, the term information system is frequently used to refer to the interaction between people, algorithmic processes, data and technology. Operations Research is the scientific study of logistic networks to provide for decision support at all levels in order to optimize production and distribution of the commodity flows. Nowadays, these logistic networks have become very large and may range over several countries, while the demands for quality of service have grown similarly to ever higher standards. Generally one agrees that to maintain such large networks successfully, one needs the control of all the information flows through the network, that is, continuous information on the status of the resources. Operations research is an interdisciplinary branch of applied mathematics and formal science that uses advanced analytical methods such as mathematical modeling, statistical analysis, and mathematical optimization to arrive at optimal or near-optimal solutions to complex decision-making problems. It is often concerned with determining the maximum or minimum of some real-world objective. The book of operations management features the latest concepts and applications while not losing focus on the core concepts that has made this text a market leader.