Operations Research

Operations research or management science describes the discipline of science and mathematics that uses computing methods such as statistics, mathematical modelling and algorithms to reach a preferred solution for a complex problem.

Solutions are often required in order to predict the maximum (of profit, throughput, etc) or the minimum (of loss, risk etc) of some function, so benefits may include decreased cost, increased revenue, management of risk, increased throughput with decreased delays and better utilisation from limited resources.

Appropriate methods then need to be utilised to communicate results to management. Many techniques from the domain of operations research can be applied to system models to assist with decision making and key support to decision makers.

Insight Acumen can benefit your organisation by:

  • assisting with the understanding of complex processes. Processes may be from a broad set of domain systems, including Government, Defence, armed forces, training, transportation, mining, production, infrastructure, industry, banking, etc.

  • using the understanding to determine system behaviour and enhance system performance.

  • testing alternate resource allocation strategies, where key resources may be people and machines.

  • creating a model or models of the processes and activities important to your system.

Please see the section on modelling and simulation for more information on discrete event modelling using ExtendSim.

For even more information on operations research or management science, please visit INFORMS, the Institute for Operations Research and Management Sciences.