Operations Research is concerned with making good decisions among many alternatives. A problem in the real world is modelled, usually on mathematical terms, then mathematical techniques, with data analysis and computational algorithms, are applied, in order to find ways to do the job better. Notable instances in business management are planning industrial production, scheduling airlines and other transportation, and managing inventories in a supply chain. A successful application does not just run a computer program, but requires a model that suitably describes the situation, and relevant data. This text presents concisely the most applicable O.R. models and the methods used to work with them. The book will be useful to practitioners of O.R., in areas of logistics, supply chain, decision sciences, or manufacturing management. It will be useful as well for students of mathematics, who wish to apply their skills to management, or for students of engineering, who wish to learn some effective methods of planning. Since Operations Research may not be the major part of their course, this brief account may serve them well. Some mathematical background (some matrices and calculus) is assumed. Applications discussed include choice among scenarios for future action, optimizing networks, optimal management of a supply chain, and other topics in business management.
ABOUT THE AUTHOR B.D. Craven
Dr. B D Craven was a Reader in the Department of Mathematics at University of Melbourne, Australia, until he retired in 1996, and is now an Associate. He holds a D.Sc. degree from Melbourne University. His research interests include optimization, optimal control, duality, generalized convexity, and fractional programming. He has published six books, and about 180 research papers, including many on operations research. He is an associate editor of two journals. His books are: Mathematical Programming and Control Theory; Functions of Several Variables; Lebesgue Measure and Integral; Fractional Programming; Control and Optimization and Optimization in Economics and Finance.
ABOUT THE AUTHOR S.M.N. Islam
Prof. Sardar M N Islam is a Professor and Director, Decision Sciences and Modelling Program, Victoria University, Melbourne, Australia. He has undertaken rigorous scientific studies of popular and emerging economic, financial and business issues in his books and papers. His present publications include 10 books by Springer Verlag, North Holland and Palgrave Macmillan, a few book manuscripts, 4 research monographs and 170 technical papers. His published books include: Corporate Crisis Management; Economic Growth and Social Welfare; Empirical Finance: Modelling and Analysis of Emerging Financial and Stock Markets; Applied Financial Econometrics in E-Commerce; Optimal Growth Economics: An Investigation of the Contemporary Issues, and Sustainability Implications; Optimisation in Economics and Finance: Some Advances in Non-Linear, Dynamic, Multi-Criteria, and Stochastic Models.
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