Operation Research Methods

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Based on the study of Patrick L. Brockett and Xiaohua Xia entitled “Operations Research in Insurance: A Review” (1995), forming and the computations of problems that involve numbers in insurance and science operations research methods can relate. Researchers’ use they’re study to show the uses of operation research methods in the industry. They use the different categories of operation research. The Mathematical Programming Models, under Mathematical Programming there are sub-categories. The sub-categories are Linear Programming, Non-linear Programming, Integer programming, Network Optimization, Goal Programming, Dynamic Programming, Cbance-Constrained Programming and Fuzzy Programming. The other categories they present are: Game Theory, Data…show more content…
Researchers discussed in there study about the Global Warming, that economic growth have a big impact to our environment. They emphasize the threats in companies and in the government. They said that operation research is a slow development tradition in operations and reducing cost. In their study the researchers want to prove if operations research in not only for companies but also for green logistics or environment. In their study, they use operations research in various departments of the companies especially in production. They also includes transportation, products and inventories: life cycle, facilities like warehouse, ports and terminals, supply and chain design, product recovery and closed loop supply chains, Supply chain planning and control and operational control of supply and transport chains. They said that for the optimization for the environment using metrics has a main role. Also they believed that operation research most useful in minimizing cost but have a strong effect on the environment while it is not…show more content…
The data was gathered in the company of KASMO Industry Limited, Osogbo, Nigeria was the company has four types of sales bundles to sell and they are required to maximize the cost of sale bundles. Also they want to minimize the profit monthly. The researchers come up with use of linear programming and solve for the maximization of cost and minimizing the profit. They also use the simplex method. They said that linear programming method was helpful in terms of optimize the allocation resources in industry. Also linear programming is the very projecting technique in operations

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