Operations research is a discipline that deals with the application of advanced analytical methods to help make better decisions. It emphasizes on human-technology interaction and because of its focus on practical applications, operations research has overlap with other disciplines, notably industrial engineering and operations management, and draws on psychology and organization science. Operations research is often concerned with determining the maximum (of profit, performance, or yield) or minimum (of loss, risk, or cost) of some real-world objective. Originating in military efforts before World War II, its techniques have grown to concern problems in a variety of industries.
“In the industrial scenario today, Operations Research helps managers make better decisions in the context of uncertainty and risk”, said Dr. Jayakrishna, BIM – Trichy during the session “Operations Research for Business.