Young Economics

Mathematics, Economics and Business

User Tools

Site Tools


Operations Research

Mathematical theory have found applications in the field of operations management such as operations research (related to mathematics)

  • Mathematical Optimization - draws heavily from multivariate calculus and linear algebra
  • Queue theory - based on Markov chains, stochastic processes, and probability distribution.
  • Simulation - managers may resort to using simulation, when analytical models are not enough. Simulation has been traditionally done thought the Discrete event simulation paradigm.
  • Demand forecasting - even though it is not strictly speaking an operations problem, demand forecasting is a critical part of push systems, since order releases have to be planned ahead of actual clients orders.

Recent OM

Here are several recent topics in Operation Research or Operation Management (OM)

  • Bender's decomposition
business/operations_research.txt · Last modified: 2017/01/17 03:35 by jhahn85