THE ROLE OF OPERATIONS RESEARCH IN MANAGERIAL DECISION-MAKING

Cvetkoska, Violeta

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Наслов:	THE ROLE OF OPERATIONS RESEARCH IN MANAGERIAL DECISION-MAKING
Authors:	Cvetkoska, Violeta
Keywords:	managerial decision-making, operations research, analytical methods, benefits
Issue Date:	2017
Source:	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.
Conference:	EMC 2017
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.
URI:	http://hdl.handle.net/20.500.12188/4050
Appears in Collections:	Faculty of Economics 02: Conference papers / Трудови од научни конференции