Operations Research: Principles and Practice is a comprehensive textbook specially designed to meet the needs of business management students. It explains the concepts and managerial applications of operations research lucidly, with the help of graphs, tables, and numerous solved examples.
Comprising 18 chapters, the book provides an in-depth coverage of linear programming problem and its various applications/extensions such as assignment problems, transportation problems, and integer and goal programming. Also, various theories and processes related to inventory management methods, sequencing, and queuing theory have been covered in detail. The book covers important topics such as network analysis tools, Markov chains, and decision theory. It concludes with chapters on investment analysis and non-linear programming. A comprehensive chapter on game theory applications adds further value to the book.
This book would also be useful for students pursuing postgraduate courses in operations research and commerce. Besides, it offers valuable insights into the subject for practitioners to optimize in business situations.
This textbook is specially designed to meet the needs of business management students. Also useful for students pursuing postgraduate courses in operations research and commerce . Besides, it offers valuable insights into the subject for practitioners to optimize in business situations.
- Discusses topics such as sensitivity analysis for a minimization problem, Activity on Node (AON) method of network analysis for a deterministic project, theory and method of oddments to solve game theory problems, transshipment problems, and an introduction to non-linear programming problems
- Equips students with the skills required for making rational business decisions using operations research techniques/models
- Explains the rationale behind every step in manual iteration method
- Provides a special section on avoiding common mistakes while solving operations research problems in each chapter
- Includes application of software (Microsoft Excel Solver) in relevant chapters
- Online Resource Centre: The following resources are available to support the faculty using this text:
1. PowerPoint Presentation
Features of the Book
Chapter 1. Operations Research: An Introduction
Chapter 2. Assignment Problem
Chapter 3. Transportation Problem
Chapter 4. Linear Programming Problem
Chapter 5. Extension of Linear Programming Problem
Chapter 6. Sequencing Models
Chapter 7. Inventory Management
Chapter 8. Dynamic Programming
Chapter 9. Queuing Th eory
Chapter 10. Game Theory
Chapter 11. Replacement Theory
Chapter 12. Network Analysis
Chapter 13. Simulation
Chapter 14. Markov Chains
Chapter 15. Forecasting
Chapter 16. Decision Theory
Chapter 17. Investment Analysis
Chapter 18. Introduction to Non-linear Programming Problems
Appendix: Statistical and Financial Tables
Pradeep Prabhakar Pai is currently Associate Professor at the Chetana's Institute of Management and Research, Mumbai. With degrees in engineering and management, he has over two decades of industrial and consulting experience in marketing and operations functions for various companies.
Prof. Pai has also been teaching operations research and related subjects as a visiting/adjunct faculty in various business schools in Mumbai and Ahmedabad.