How can operations research improve efficiency in a business?
This question has been flagged
1
Reply
57
Views
Operations research improves business efficiency by:
- Optimizing Resources: Allocating time, labor, and materials effectively.
- Enhancing Decision-Making: Providing data-driven insights for faster decisions.
- Improving Scheduling: Streamlining production and logistics.
- Optimizing Supply Chains: Managing inventory and transportation costs.
- Boosting Quality Control: Identifying inefficiencies in production.
- Enabling Scenario Analysis: Simulating outcomes to prepare for uncertainties.
These methods lead to cost savings and improved performance.