Principles of Operations Research

Operations Research which is relatively a new discipline starts when mathematical and quantitative techniques are used to substantiate the decision being taken. In our daily life we make the decisions which are taken simply by common sense, judgment and expertise without using any mathematical or any other model in simple situations. Operations Research takes tools from different disciplines such as mathematics, statistics, economics, psychology, engineering etc. and combines these tools to make a new set of knowledge for decision making. Today, it has become a professional discipline which deals with the applications of scientific methods for making decisions and especially to the allocation of scarce resources. The main purpose of the subject is to provide a rational basis for decisions making in the absence of complete information.