What Is Operations Research & Its Various Types And Methods?
Operations Research may be referred to as the study conducted for the particular situation for which varied models of combination of mathematical and logical aspects are involved. Relationships between the objective functions & solutions and the relevant restrictions are studied under the different models of Operations Research. Following methods and types are there as regards Operations Research.
Linear Programming – This usual model of OR comprises of a unique single function that refers to either the maximization of profit / cost or the relevant constraints. These two aspects fall in line with each other while the constraints do not impact the objective in any adverse manner. The relevant simple software is easy to understand.
Network Flow Programming – This model of OR is advantageous for different problems including transportation, assignment, the minimum path difficulty or the maximum flow difficulty etc. It involves different factual situations that can be easily solved through the reliable algorithms for obtaining optimum results.
Integer programming – Few variables are necessary for obtaining discreet values through this particular model of OR. It comprises of the pre-set prudent values within the range instead of involving variable for assumption of all the real values in the given range. This particular model of OR is quite useful for making binary decisions and invest-not invest, build-no build or yes-no type of decisions.
Nonlinear programming – This unique model of OR comprises of larger class of situations and is known for approximations.
Dynamic Programming – Available in varied ways, this model is useful for decisions, returns and transitions etc. It starts with the decision that is responsible for transition to the new situation. The other models and steps of the Operations Research include Stochastic Programming, Combinatorial Optimization, Stochastic Processes, Discrete Time Markov Chains, Continuous Time Markov Chains and Simulation etc with the relevant advantageous features that are much useful for the users.
