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In this section some examples of successful real-world applications of operations research are provided.


In this section some examples of successful real-world applications of operations research are provided.
In this section some examples of successful real-world applications of operations research are provided.
These should give the reader an appreciation for the diverse kinds of problems that O.
can address, as well as for the magnitude of the savings that are possible.
Without any doubt, the best source for case studies and details of successful applications is the journal Interfaces , which is a publication of the Institute for Operations Research and the Management Sciences INFORMS .
This journal is oriented toward the practitioner and much of the exposition is in laypersons terms; at some point, every practicing industrial engineer should refer to this journal to appreciate the contributions that O.
All of the applications that follow have been extracted from recent issues of Interfaces.Fassilia
United States. Alabama



day: 19.09.2018
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In this section some examples of successful real-world applications of operations research are provided.

Before ending this section it is worth emphasizing that similar to a traditional Industrial Engineering project, the end
Before ending this section it is worth emphasizing that similar to a traditional Industrial Engineering project, the end result of an O.
project is not a definitive solution to a problem.
Rather, it is an objective answer to the questions posed by the problem and one that puts the decision-maker in the correct ball-park.
As such it is critical to temper the analytical solution obtained with common sense and subjective reasoning before finalizing a plan for implementation.
From a practitioner s standpoint a sound, sensible and workable plan is far more desirable than incremental improvements in the quality of the solution obtained.
This is the emphasis of this penultimate phase of the O.Fassilia
United States. Alabama



day: 19.09.2018
views - 185


photo:

In this section some examples of successful real-world applications of operations research are provided.

Since the validity of the solution obtained is bounded by the model s accuracy, a natural question that is of interest t
Since the validity of the solution obtained is bounded by the model s accuracy, a natural question that is of interest to an analyst is How robust is the solution with respect to deviations in the assumptions inherent in the model and in the values of the parameters used to construct it.
To illustrate this with our hypothetical production problem, examples of some questions that an analyst might wish to ask are, a Will the optimum production plan change if the profits associated with widgets were overestimated by 5 , and if so how.
or b If some additional amount of Resource 2 could be purchased at a premium, would it be worth buying and if so, how much.
or c If machine unreliability were to reduce the availability of Resource 3 by 8 , what effect would this have on the optimal policy.
Such questions are especially of interest to managers and decision-makers who live in an uncertain world, and one of the most important aspects of a good O.
project is the ability to provide not just a recommended course of action, but also details on its range of applicability and its sensitivity to model parameters.Fassilia
United States. Alabama



day: 19.09.2018
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The reason of course, is that this plan does not make the most effective use of the available resources and fails to tak
The reason of course, is that this plan does not make the most effective use of the available resources and fails to take into account the interaction between profits and resource utilization.
While the actual difference is small for this hypothetical example, the benefits of using a good O.
technique can result in very significant improvements for large real-world problems.
The second part of this step in the O.
process is referred to as postoptimality analysis, or in layperson s terms, a what-if analysis.
Recall that the model that forms the basis for the solution obtained is a a selective abstraction of the original system, and b constructed using data that in many cases is not 100 accurate.Fassilia
United States. Alabama



day: 19.09.2018
views - 186


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We conclude this section by examining the solution to the model constructed earlier for our hypothetical production prob
We conclude this section by examining the solution to the model constructed earlier for our hypothetical production problem.
Using linear programming to solve this model yields the optimal solution of G 540 and W 252, i.
, the production plan that maximizes profits for the given data calls for the production of 540 gizmos and 252 widgets.
The reader may easily verify that this results in a profit of 7668 and fully uses up all of the first two resources while leaving 18 units of the last resource unused.
Note that this solution is certainly not obvious by just looking at the mathematical model - in fact, if one were greedy and tried to make as many gizmos as possible since they yield higher profits per unit than the widgets , this would yield G 708 and W 0 at which point all of the second resource is used up .
However, the resulting profit of 7080 is about 8 less than the one obtained via the optimal plan.Fassilia
United States. Alabama



day: 19.09.2018
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