Techniques & Tools of Operation Research

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In this post, we will discuss some of the important Techniques and Tools of Operation Research.

Operation Research helps in the solution for optimizing a problem by the application of the principles and the different methods of science.

Linear Programming

  • In Operation Research, Linear Programming Model is used to find a solution for optimizing a problem or objective.
  • The objective may maximize or minimize a problem.
  • Both Objective Function and Constraints must be expressed in linear expressions.

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Inventory Control Method

  • Inventory model helps in optimizing problems related to the stock of goods like when to buy, how much to buy, how much to keep in stock etc.

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Goal Programming

  • When there is more than one goal, i.e., several objectives (a real-life situation).
  • These several objectives have their own goals to complete.

Queuing Model

  • This type of model is totally based on the concept of probability.
  • Indicates system ability and changes possible on modifying.
  • This can’t be seen as an optimizing process.
  • This model provides a balance between customers waiting for the time and service capability of the system.

Transportation Model

  • This model minimizes (studies) the cost of transporting a commodity from different sources to their destinations.
  • The demand and supply are known, and this model develops an integral transportation schedule.

Assignment Model

  • A special case of Transportation problem.
  • Deals with problems involving allocation of ‘n’ different facilities o ‘n’ different tasks.
  • Its objective is to minimize cost or time of completing ‘n’ jobs by ‘n’ persons and maximize revenue and sales.
  • This model is mostly used for planning.

Network Analysis

  • A special type of technique (a network of interconnected components) used for planning, management, and control of projects.
  • In this type, a project is broken down into different components (activities, duration, time, etc.), each defined by completion time (start to finish) and a relationship.
  • PERT (Program Evaluation and Review Technique) and CPM (Critical Path Method) are the two Network Analysis techniques developed in the 1950s.

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