Operations Research - What It is all About

Abstract

This paper discusses what Operations Research (OR) is, it’s historical development, the distinguishing characteristics of OR as well as it’s contributions, what OR can do and the future of OR. The eventual intension behind using Operations Research (OR) is to elicit a best possible solution to a problem mathematically, which improves or optimizes the performance of the system. Operations Research attempts to provide those who manage organized systems with objective and quantitative basis for decisions. OR is the application of science to the solution of managerial and administrative problems, and it focuses on the performance of organized systems taken as a whole rather than on their parts taken separately. It is concerned with how managerial decisions are and should be made.