Operations Research Using Excel (eBook)

The field of operations research provides a scientific approach to managerial decision making. In a contemporary, hypercompetitive ever-changing business world, a manager needs quantitative and factual ways of solving problems related to optimal allocation of resources, profit/loss, maximization/minimization etc. In this endeavor, the subject of doing research on how to manage and make operations efficient is termed as Operations Research. The reference text provides conceptual and analytical knowledge for various operations research techniques. Readers, especially students of this subject, are skeptic in dealing with the subject because of its emphasis on mathematics. However, this book has tried to remove such doubts by focusing on the application part of OR techniques with minimal usage of mathematics. The attempt was to make students comfortable with some complicated topics of the subject. It covers important concepts including sensitivity analysis, duality theory, transportation solution method, Hungarian algorithm, program evaluation and review technique and periodic review system. Aimed at senior undergraduate and graduate students in the fields of mechanical engineering, civil engineering, industrial engineering and production engineering, this book:* Discusses extensive use of Microsoft Excel spreadsheets and formulas in solving operations research problems* Provides case studies and unsolved exercises at the end of each chapter* Covers industrial applications of various operations research techniques in a comprehensive manner* Discusses creating spreadsheets and using different Excel formulas in an easy-to-understand manner* Covers problem-solving procedures for techniques including linear programming, transportation model and game theory