Assignment @ Operation Research

In: Business and Management

Submitted By Sourov88
Words 1940
Pages 8


( FIN – 3104 )


Quantitative Analysis for Optimization :

Using Linear Programming & Transportation Problem

Group Name

Name & ID No. of the Group Members:

|Sl. No. |Name |ID No. |
| | | |
|01 |Suman Chandra Mandal (Group Leader) |091557 |
| |Md. Nahid Islam |091604 |
|02 | | |
| | | |
|03 |Mahbuba Mehreen |091619 |
| | | |
|04 |Rabeya Refat Nishi |091586 |
| |…...

Similar Documents

Operation Research Project

...Comprehensive assignment for Operations Research Course PGCBM21 Submitted by: Chetan Eklaspur Batch: PGCBM21 SMSID: 110337 Submitted to: Dr Supriya kumar De Study Center: Kormangala Bangalore. Problem: The problem below depicts one of the situations which we face in our Business and I have tried to apply and solve the same using LPP method to find the optimum solution and use it to make decisions. Mr Basavraj runs a wholesale tea powder business under the name of “Eklaspur Tea Depot”. Over the years he has been selling different brands of tea powders and acts as wholesaler or stockiest for those brands. “Eklaspur Tea Depot” is established as a major wholesaler in the area and has a good client base in the form of retailers and Kirana shop owner in the area. Recently due to lot of competition and rising prices there have been requests from few of the clients and some of the new client for a reduction in the prices or cheaper products, these clients are ready to compromise on the quality if the prices are reduced. So having discussed this with some of its client Mr Basavraj wants to start his own brand of Tea powder mixture under the name “Star teas” with Premium and Deluxe quality. The new Brand will be priced lower than the current Brands to meet the requirements of these clients. Mr Basavraj Forecasts that there will be demand for Premium and Deluxe to be 50 and 90 bags respectively of 35kg each,......

Words: 1012 - Pages: 5

Relevance of Operations Research

...Relevance of Operations Research Operations research is the basic scientific knowledge which has analytical and mathematical nature leading to the development of different kinds of models that can be beneficial in the decision making. By studying operations research we can learn different models and compare them to real-world problems in order for us to avoid taking risk or making bad decisions in real cases, hence, utilizing the finances and resources in the best way possible. The goal of every organization is to maximize its profits and minimize its costs, operations research play a crucial role in helping the company reach its goal by taking precautions and being aware because of the knowledge they have to do the problem solving. One of the most commonly known problems that can be addressed by operations research is the production problem. It could be used when the manager wants to optimize the production processes and reduce the risk of damaged or faulted products by making models that would help the manager to evaluate and analyze the various probabilities and then select the most efficient and effective one. Example: In the 1980’s when Rover cars (now known as the MG Rover) were developing the Metro at their long bridge plants, they used operations research to make the best use of their knowledge in manufacturing processes by inventing the ‘Visual Interactive Model’. Cars move along in the production line through various processes like welding, painting, trim......

Words: 504 - Pages: 3

Operation Research

...11-1 Inventory Management 11-2 Inventory Management CHAPTER Operations Management 11 William J. Stevenson Inventory Management 8th edition McGraw-Hill/Irwin Operations Management, Eighth Edition, by William J. Stevenson Copyright © 2005 by The McGraw-Hill Companies, Inc. All rights reserved. 11-3 Inventory Management 11-4 Inventory Management Types of Inventories Inventory: a stock or store of goods Independent Demand A Dependent Demand Raw materials & purchased parts • Partially completed goods called work in progress • • Finished-goods inventories • B(4) C(2) D(2) E(1) D(3) F(2) (manufacturing firms) or merchandise (retail stores) Independent demand is uncertain. Dependent demand is certain. 11-5 Inventory Management Types of Inventories (Cont’d) (Cont’ 11-6 Inventory Management Functions of Inventory • • Replacement parts, tools, & supplies Goods-in-transit to warehouses or customers • • • • To meet anticipated demand To smooth production requirements To decouple operations To protect against stock-outs 11-7 Inventory Management Functions of Inventory (Cont’d) (Cont’ To take advantage of order cycles To help hedge against price increases To permit operations To take advantage of quantity discounts 11-8 Inventory Management Objective of Inventory Control • • • • • To achieve satisfactory levels of customer service while keeping......

Words: 1284 - Pages: 6

Operation Research & Methods

...Operational Research Models and Methods in CIM1 Abstract : Many models and methods of Operational Research can be adapted for industrial applications. In this chapter, we show on one hand the main problems of a manufacturing system and, on the other hand, how they can be ranged in a hierarchical order, derived from a CIM architecture (from the strategic decisions to the production constraints). Then, we present an Operational Research tool for solving each of these problems. 1 Introduction Flexible Manufacturing Systems (FMS) are nowadays installed in the mechanical industry, especially in car factories. However, the market constraints impose to always improve the production system and the whole production organization. The concepts developed by Taylor and applied at the beginning by Ford are progressively abandoned and replaced by the Just-In-Time concept and the Computer Integrated Manufacturing philosophy (CIM). One of the aims of the CIM philosophy is to provide an integrated information system which avoids the rigid separations between the different functionalities of a complete production system. With such integrated information systems, the loss of time on one hand between the customer order and the part delivery, on the other hand between the product design and its manufacture will be drastically reduced. To understand the complete production system, it is relatively easy to find in the scientific literature excellent general books explaining the different......

Words: 5165 - Pages: 21

Operations Research -- Sample Homework Assignments

...56:171 Operations Research mmmmmmm 56:171mmmmmmm Operations Research -- Sample Homework Assignments Fall 1997 Dennis Bricker Dept. of Industrial Engineering University of Iowa mmmmmmmmmmmmmmmmmmmm mmmmmmmmmm Homework #1 mmmmmmmmm Linear Programming Model Formulation: Formulate a Linear Programming model for each problem below, and solve it using LINDO (available on the HP-UX workstations, or you may use the software packaged with the textbook.) Be sure to state precisely the definitions of your decision variables, and explain in a few words the purpose of each type of constraint. Write a few words to state what the optimal solution is (i.e., without making use of variable names). (For instructions on LINDO, see §4.7 and the appendix of chapter 4 of the text.) mmmmmmmmmmmmmmmmmmmm 1. Exercise #4, page 113 (Walnut Orchard Farms) "Walnut Orchard has two farms that grow wheat and corn. Because of differing soil conditions, there are differences in the yields and costs of growing crops on the two farms. The yields and costs are Farm 1 Farm 2 -------------------------------------------------------------------------------------------Corn yield/acre Cost/acre of corn Wheat yield/acre Cost/acre of wheat 500 bushels $100 400 bushels $90 650 bushels $120 350 bushels $80 Each farm has 100 acres available for cultivation; 11,000 bushels of wheat and 7000 bushels of corn must be grown. Determine a planting plan that will minimize the cost of meeting these demands.......

Words: 10012 - Pages: 41

Operation Research

...Cases in Operation Management Semester 4 PGDBA (Operations) Page 1 Question-: 1 The “Quality Auto Works” is a manufacturer of auto parts. All the auto parts being manufactured in the industry are required to be phosphated for surface protection. Presently other small units are done this phosphated work. Quality Auto Work is now thinking of installing its own phosphating plant and is interested about knowing about following. (A) Should the install new plant or continue the present practice of subcontracting? For finding out whether the firm should do the phosphating work by own or it should contract other for the some one, we have to compare both the cost which are as follows. Annual Cost of subcontracting Cost of purchase =6.25x12000x12 =9, 00,000/- Cost of Transportation Total Cost =1800x12=21600/- =9, 21,600 Annual cost for installing own phosphating plant: Installation cost of plant: 2, 80,000x0.2452= 68,656/- Labor cost Benefit to labor Power Raw material : 8000x12 = : 96000x40/100 = : 12,000x0.23x12 = : 12000x0.45x12 = 96,000/- 38,400/- 33,120/- 64,800/- Total cost of installing = 3, 00,976/- ......

Words: 826 - Pages: 4

Operations Research

...PRINCIPLES AND APPLICATIONS OF OPERATIONS RESEARCH * Jayant Rajgopal Department of Industrial Engineering, University of Pittsburgh, Pittsburgh, Pennsylvania ABSTRACT This chapter will provide an overview of Operations Research (O.R.) from the perspective of an industrial engineer. The focus of the chapter is on the basic philosophy behind O.R. and the so-called “O.R. approach” to solving design and operational problems that industrial engineers commonly encounter. In its most basic form, O.R. may be viewed as a scientific approach to solving problems; it abstracts the essential elements of the problem into a model, which is then analyzed to yield an optimal solution for implementation. The mathematical details and the specific techniques used to build and analyze these models can be quite sophisticated and are addressed elsewhere in this handbook; the emphasis of this chapter is on the approach. A brief review of the historical origins of O.R. is followed by a detailed description of its methodology. The chapter concludes with some examples of successful real-world applications of O.R. * Maynard's Industrial Engineering Handbook, 5th Edition, pp. 11.27-11.44. 1.1 INTRODUCTION Although it is a distinct discipline in its own right, Operations Research (O.R.) has also become an integral part of the Industrial Engineering (I.E.) profession. This is hardly a matter of surprise when one considers that they both share many of the same objectives, techniques and application......

Words: 11680 - Pages: 47

Operations Research

...COMPUTATIONAL COMPLEXITY OPERATIONS RESEARCH Pooja Punjabi Manash Hazarika INDIAN INSTITUTE OF MANAGEMENT, KOZHIKODE COMPUTATIONAL COMPLEXITY Computational Complexity is a measure of the computational time taken by a particular algorithm. In a scenario where there are multiple algorithms available for a particular problem, the effectiveness of any particular algorithm is gauged on the basis of the time constraint. This is done by breaking the algorithm into its basic steps and then taking a count of each of them. Hence greater is the number of steps, greater is the complexity. Now for example, if we take two 5 bit binary numbers and XOR them, the number of steps taken is 5 and if the same process is repeated for a 100 bit binary number, the number of steps goes up to 100. The algorithm employed in either case is the same; the complexity is given by the size of the numbers. When we say size of a number n, it is defined as the number of binary bits which are required to denote ‘n’ in base 2. For example, 5 in base 10 when expressed in binary takes the form 101, thereby giving n = 3. Similarly 20 is given by 101002 which makes n = 5. Now if we XOR any two numbers each of size n=b, the number of steps taken will be ‘b’. Hence we can say that XORing those numbers has computational complexity of order ‘b’ which is denoted by O(b). This can be applied to even simpler applications like addition wherein if we are to add two n digit numbers, the minimum number of steps taken......

Words: 3078 - Pages: 13

Operations Research

... it's not just about price it's also about what the shopper gets for her money. By comparison, national brands operate on a different playing field, one that is far more costly. Their goal is to be in every store in the country. That means they spend huge sums of money on advertising, merchandising and promotion. Store brands are not cheaper they are just less expensive to market than national brands are. That's good news for consumers. Store Brands: The Smarter Choice Exactly how much do consumers save? Last year, American shoppers who reached for the store brand version of their favorite food and non-food grocery products rather than the national brand enjoyed an estimated $32 billion in annual savings. Ongoing research by PLMA consistently reveals that on a trip to a typical supermarket shoppers save about one-third on basic grocery and household items by choosing store brands over national brands. The difference is the so-called marketing tax, which consists of advertising and promotional costs incurred by national brand makers that are then passed on to consumers in the form of higher prices. Big CPG companies spend more than $21 billion annually on advertising media. They earmark about 25 cents of every dollar to build brand equity. They do this to satisfy shareholders and Wall Street analysts who place a premium on the perceived value of their brands. A store brand manufacturer does not have these costs. But it buys the......

Words: 34880 - Pages: 140

Operations Research

...Year | 2015-16 | Academic Term | T1☐ T2☐ T3☐ T4☐ T5☐T6☐ | Functional Areas | OPERATIONS MANAGEMENT | Core ☐ Elective x☐x | Title | Quantitative Methods II | Abbreviation | QM-II | Course Coordinator | Prof. RAVI SHANKAR | Teaching Members | | Course Revision Record Version | Version Date | Recommendation | 1 | 05 Sept 2015 | | Credits | 3 | Contact Hours | 30 | Learning Hours | 60 | Office Hours | 30 | Contact Details | 09811033937 | Course eMail | | Course Descriptor Course Overview(200 words) | Quantitative Methods-II, focuses on ‘Operations Research’ tools which helps in solving problems in different functional domain of business. It also helps to optimize business operations/processes. The Quantitative Method-II tools act as aids to decision makers to take best decision for effective & efficient use of resources which ultimately lead to profit maximization or to achieve multiple goals or objective. | Course must be aligned with a strategic objective of the program Prerequisites/Co-requisites | Quantitative Methods I | Learning Objectives | To learn basic optimization techniques and their managerial applications with a focus on methodologies such as Linear Programming, Transportation models, Assignment Models, Transhipment Models, Games Theory, Queuing Models, Goal Programming, Integer Programming, Non-linear Programming, Simulation and Decision Theory. | Learning objectives must be aligned with......

Words: 1342 - Pages: 6

Operations Research

...Business Research Methods (BRM) Project submission on Meru Cabs: Why is this cab service provider losing market share? Submitted by: Group 8 Submitted by: Group 8 Aditi Chaudhary | PGP/19/183 | Alka | PGP/19/186 | Alla Bharath Reddy | PGP/19/187 | Avishek Pandey | PGP/19/196 | Miranda Boro | PGP/19/207 | Md. Talha | PGP/19/208 | Declaration "We hereby declare that this submission is our own work and that, to the best of our knowledge and belief, it contains no material previously published or written by another person nor material which has been accepted for the award of any other degree or diploma of the university or other institute of higher learning, except where due acknowledgment has been made in the text.” Contents Introduction 1. Business Research problem 2. Why did we select it? 3. Introduction 4. Research Methods 5. Information regarding collection of data a. Quantitative b. Qualitative 6. Research Methodology c. Survey d. Focus Groups Discussions 7. Expected analysis and outcome Conclusion Business Research problem: “Why is Meru cabs losing its market share? “ The overall bookings are very less on Meru as compared to its competitors and it is lagging behind low-cost cab service providers such as Ola, Uber and Taxi for sure. Our present research proposal addresses this issue and tries to find out the reasons behind the same. Why did we select it? Many of our team......

Words: 1548 - Pages: 7

Operation Research

...other related topic from internet such as definition of oil and gas , the cause of oil and gas and to know about the advantages and disadvantages of oil and gas 2. The time available * I did the research after class finish and completed the task given usually at night 3. The financial resources at disposal * I spend my money to print out the report and for references I just took from internet and library. There is no cost for references. 4. Knowledge and expertise in the areaMy major is management. I have learned International Economic and Oil and Gas Economic in class. I learned the economic growth and what are the cause of economy fall. | STEP 7 | Double-check | 1. I am interested with the chosen topic. I am curious how tough the oil price can impact the economy. 2. I agree with the objective I have been stated. With the specific objective, easier to me to learn the specific impact of low oil price on economy. 3. I have adequate resources to complete the task. I am using internet (website) and book. And lecturer as a supervisor to guide me to complete the task. 4. I been learn economic and microeconomic subject in the class so that easier to me to do the research. And I am refer to lecturer who teach me economic subject to help me in this research. |...

Words: 402 - Pages: 2

Advance Operation Research

...Advance Operation Research Assignment Multi Period Optimization Models In Airline Overbooking 1/31/2012 Submitted by: 1) Alka Tripathy (06) 2) Anil Pooniya (11) 3) Arunima Singh (18) 4) Ashutosh Tripathi (23) 5) Ashwin Salpekar (24) The overbooking model considers the lost revenue due to cancellations and no-shows that will result in flying with empty seats, and the loss of good will and compensation cost due to excess number of show-ups than the available capacity. The overbooking problem is generally classified as static and dynamic based on the assumptions. Though the dynamic overbooking problem treats the overbooking problem in its realistic nature by taking into consideration the dynamic nature of cancellation over a period of time, it is not used by many airlines due to its mathematical intractability for a real world data. The static overbooking, which many airline use, simplifies the nature of the problem to make it mathematically tractable for real world data and daily use. However, many of the static overbooking models are modeled for a single class problem and did not include the loss of good will cost, and uses simplified form of the compensation cost in the development of the model. Furthermore, the commercial RM models are constructed based on the assumption that the demand distribution is simply the product of the show-up rate and Overbooking limit, which is not the case when evaluated both on a theoretical and practical......

Words: 2617 - Pages: 11

Operations Research and Its Prospects in Pakistan

...Operations Research and its Prospects in Pakistan Prof. Dr. Shoaib ud Din Mathematics Department Punjab University, Lahore, Pakistan Operations Research has had an increasingly great impact on the management of organizations in the recent years. In fact, with the exception of advent of electronic computer, the extent of this impact seems to be unrivalled by that of any other recent development. However, all the development in this field has gone almost unnoticed in most developing countries including Pakistan. This article is an effort to introduce Mathematics community in the country to the subject and its achievements. A brief history In order to appreciate the importance of OR in the world today it is important that we know something of its history and evolution. Although roots of Operations Research can be traced back many decades, it is generally agreed that this discipline began during World War II. During the War team of British scientists with diverse background were called upon to study the strategic and tactical problems associated with air and land defense of the country. The establishment of this scientific team marked the first formal Operations Research activity. Their efforts were allegedly instrumental in winning the Air Battle of Britain, The Island Campaign in the Pacific, the Battle of the North Atlantic, and so on. The name Operations Research-Operational Research in the United Kingdom – was apparently coined because the problems assigned to this......

Words: 1347 - Pages: 6

Operations Research

...Industrial Engineering University of Iowa When sending an e-mail, please begin subject line with “OR”. page 2 Discussion Meeting A weekly meeting will be scheduled at which time students may ask questions, discuss homework exercises, etc. Attendance at this meeting is optional. Grading System • There will be 2 examinations, one at the middle of the course, and one at the end. • Homework will be assigned each week, but this will not be given to the instructor to be graded. Students are encouraged to work together on homework assignments. • There will be a short (multiple choice) quiz each week which tests whether you have understood the homework assignment. Only the best 10 quizzes for each student will be used in computing the course grade. Midcourse Examination Final Examination Weekly Quizzes (best ten) 30% 50% 20% page 3 What is “Operations Research”? • other names: management science, decision science • application of information technology for decision-making • designing systems to operate in the most effective way or deciding how to allocate scarce human resources, money, equipment, or facilities • closely related to several other fields: o applied mathematics, o computer science, o economics, o industrial engineering, and o systems engineering page 4 Typical problems faced by an O.R. practitioner: • In what sequence should parts be produced on a machine in order to minimize the......

Words: 508 - Pages: 3