Explain the characteristics of operations research.
Correct Answer
Characteristics of Operations research:
1. Decision making: Operations research is a decision science that helps management to make better decisions.
2. Use of Information Technology (IT): O.R. often requires a computer to solve the complex mathematical model or to perform a large number of computations that are involved. The use of digital computers has become an integral part of the operations research approach to decision making.
3. Quantitative solution: Operations research provides managers with a quantitative basis for decision-making. OR attempts to provide a systematic and rational approach for a quantitative solution to the various managerial problems.
4. Human factors: In the deriving quantitative solution we do not consider human factors, which doubtlessly play a great role in the problems. So the study of the OR is incomplete without a study of human factors.
5. System orientation: O.R. studies the situation or problem as a whole. This means that activity by any part of an organization has some effect on the activity of every other part. The optimum result of one part of a system may not be the optimum for some other part. Therefore, to evaluate a decision, one must identify all possible interactions and determine their impact on the organization as a whole.
6. Scientific approach: O.R. uses scientific methods to solve the problems. Most of the scientific studies such as chemistry, physics, biology, etc. can be carried out in the laboratories, without much interference from the outside world. Bust same is not true in the systems under study by OR teams. So, OR is a formalized process of reasoning. Under OR the problem is to be analyzed ad defined clearly. Observations are made under different conditions to study the behavior of the system. Based on these observations a hypothesis describing how the various factors involved are believed to interact and the best solution to the problem is formulated. To test the hypothesis experiment is designed and executed. Observations are made and measurements are recorded. Finally, the results of the experiments are studied and the hypothesis is accepted or rejected. So, OR is the use of scientific methods to solve the problem under study.
7. Inter-disciplinary team approach: O.R. is performed by a team of scientists whose individual members have been drawn from different scientific and engineering disciplines. For example, one may find a mathematician, statistician, physicist, psychologist, economist, and engineer working together on an OR problem.
8. Uncovering new problems: The solution of an OR problem may uncover several new problems. To derive the maximum benefit each one of them must be solved. OR is not effectively used if It is restricted to one-shot problems only. To derive full benefits, continuity of research must be maintained.