Subject: managerial decision-making, operations research, analytical methods, benefits
Year: 2017
Type: Proceeding article
Title: THE ROLE OF OPERATIONS RESEARCH IN MANAGERIAL DECISION-MAKING
Author: Cvetkoska, Violeta
Abstract: Managers in all organizations should take into account the qualitative aspects of the problem they face, but they should also use the solution of quantitative models as a recommendation in order to make a good decision. The field of Operations Research includes a “buffet breakfast” of analytical methods developed to solve real complex problems and to help make better decisions. Operations Research has been applied in diverse areas, such as: agriculture, aviation, construction, education, electronics, finance, healthcare, manufacturing, military, sports, telecommunications, transportation, etc. Operations Research generates powerful benefits for organizations, such as: increased revenue, increased efficiency, reduced cost, optimized resource use, improved customer service, etc. The aim of the paper is to examine the role of Operations Research in managerial decision-making in renowned organizations around the world. Applications of Operations Research in 30 organizations are presented and the annual savings are given.
Publisher:
Relation: EMC 2017
Identifier: oai:repository.ukim.mk:20.500.12188/4050
Identifier: Cvetkoska, Violeta. The Role of Operational Research in Managerial Decision-Making. In the Proceedings of the VII International Symposium of Engineering Management and Competitiveness (EMC), (on CD-ROM). Zrenjanin, Serbia: University of Novi Sad, Technical Faculty “Mihajlo Pupin”, 2017, 51-56.
Identifier: http://hdl.handle.net/20.500.12188/4050
