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Indian Economy Essay

414 words - 2 pages

Applications of Operations Research
planning, routing, scheduling, forecasting, process analysis and decision analysis. OR is also contributing greatly to healthcare services such as surgical and bed scheduling, portering operations, emergency transport, accident trend analysis and treatment optimization. In the service sector, OR techniques have been found especially helpful when dealing with variability in service delivery such as call centres, queues for service and medical wait times. A sampler of typical OR applications includes: • • • • • • • • • • • • Optimization of LTL trucking (Yellow Freight) Optimal package designs (Domtar Packaging, Ltd) Manpower planning models (Treasury Board Secretariat) ...view middle of the document...

OR techniques are used by airlines and rail companies to offer varying fares and make higher revenues by filling more seats at different prices - an OR technique known as Yield Management. All airlines depend on the effective use of OR techniques to make them operate at a profit. Retailing. In supermarkets, data from store loyalty card schemes is analyzed by OR groups to advise on merchandising policies and profitability improvement. OR methods are also used to decide when and where new store developments should be made. Health. Hospital managers use OR to make decisions such as determining the optimal utilization of operating rooms and personnel, assessing the risks posed by patients with various medical conditions, and deciding necessary levels of perishable medicine in stock.

Financial Services. OR practitioners address issues such as portfolio and risk management, planning and needing to ensure that they find the optimum balance of risk and revenue.

analysis of customer service. They are widely employed in Credit Risk Management—a vital area for lenders

Government. OR is a key contributor in modernizing government services and making them more efficient. Some OR applications include modeling the impact of performance related pay for teachers, evaluating government call-centers, projecting the size of the prison population, and national defense.

Centre for Operations Excellence Tel: 604-822-1800

209-2053 Main Mall, Vancouver, BC V6T 1Z2 www.coe.ubc.ca

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