MS/OR and the Computer
10 Questions
12 Views

MS/OR and the Computer

Created by
@AdaptiveLeprechaun

Podcast Beta

Play an AI-generated podcast conversation about this lesson

Questions and Answers

What is one common pitfall that MS/OR specialists might fall into?

  • Forgetting to use linear programming for all decisions
  • Relying solely on heuristics for decision-making
  • Always building complex solutions that are difficult to understand
  • Neglecting to integrate judgment and intuition with the models they build (correct)

    • Why do many 'real world' problems not have MS/OR solutions?

  • Because managers prefer heuristic-based solutions
  • As a result of forgetting to include constraints
  • Due to the limitations of MS/OR models (correct)
  • Because managers assign incorrect values to constraints

    • What is a key characteristic of a good MS/OR solution?

  • Being behaviorally appropriate (correct)
  • Having a high reliance on heuristics
  • Being complex and difficult to explain
  • Being built without considering economic viability

    • Why do managers need to be counseled on the limitations of MS/OR models?

    <p>To ensure they understand the need for integrating judgment and intuition</p> Signup and view all the answers

    Which method involves creating a sequence of interdependent activities?

    <p>Network Scheduling</p> Signup and view all the answers

    What is one characteristic of a reliable MS/OR solution?

    <p>It is economically viable</p> Signup and view all the answers

    Which method is commonly used to handle uncertainty in decision-making processes?

    <p>Forecasting</p> Signup and view all the answers

    What role does judgment play in the effective use of MS/OR models?

    <p>It needs to be combined with the models for effective decision-making</p> Signup and view all the answers

    Why is it important for managers to understand the limitations of MS/OR models?

    <p>To emphasize the need for judgment and intuition in decision-making</p> Signup and view all the answers

    Which type of problems might not have a suitable MS/OR solution?

    <p>Real-world problems that lack clear-cut solutions</p> Signup and view all the answers

    Study Notes

    MS/OR and the Computer

    • Organizations have turned to computers to provide data due to the complexity and scope of managerial decision-making, as the benefits/cost ratio of using computers is overwhelmingly in favor.
    • Manual methods are no longer viable for providing data.

    Decision Support System (DSS)

    • A DSS is a computer-based information system designed to support decision-making processes within an organization.
    • The primary purpose of a DSS is to provide relevant information and analytical tools to help decision-makers make more informed and effective decisions.
    • Characteristics of a DSS:
      • Quick access to information for decision-making
      • Integration of MS/OR models with computer tools
      • Flexible databases for versatile information storage
      • Assistance in addressing unstructured problems not fully solvable by individual models or information systems reports
      • Enhances the impact of management decisions by extending managerial capabilities
      • Allows incorporation of intuition and judgment at all decision-making stages

    Role of Human and Computer

    • Human decision makers:
      • Have creative powers
      • Can learn from experiences
      • Can see the overall complex problem
      • Have an enormous memory
      • Have flexibility
    • Computers:
      • Can follow rules
      • Are not always accurate
      • Can be programmed to follow rules
      • Have enormous memory
      • Never forget
      • Have flexibility

    Classification of Management Information Systems

    • Classification by processing method:
      • Batch Processing
      • Real-Time Processing
      • Online Processing
      • Timesharing
      • Distributed Data Processing
    • Classification by type of output provided:
      • Management Information System that generates reports
      • Management Information System that answers "what-if" kind of questions asked by management

    Opportunities and Shortcomings of the Quantitative Approach

    • Shortcomings:
      • MS/OR specialists may forget to counsel managers on the limitations of the models they build
      • Managers may forget to include an important constraint or assign an incorrect value to a constraint
      • Many MS/OR solutions are difficult to explain to managers
      • Some "real-world" problems do not have an MS/OR solution

    Good MS/OR Solution

    • A good MS/OR solution should:
      • Be technically appropriate
      • Be reliable
      • Be economically viable
      • Be behaviorally appropriate

    Quantitative Methods to be Discussed

    • Probability Concepts Review
    • Forecasting
    • Decision Theory
    • Inventory Models
    • Linear Programming
    • Special-Purpose Algorithms
    • Integer Programming, The Branch And Bound Method
    • Dynamic Programming, Goal Programming
    • Heuristics
    • Simulation
    • Queuing Theory
    • Network Scheduling
    • Markov Analysis
    • A Look Ahead

    Studying That Suits You

    Use AI to generate personalized quizzes and flashcards to suit your learning preferences.

    Quiz Team

    Description

    Explore the integration of Management Science (MS) and Operations Research (OR) with computer technology for effective decision-making in organizations. Learn about Decision Support Systems (DSS) and how they enhance managerial decision-making processes through computer-based information systems.

    More Like This

    Use Quizgecko on...
    Browser
    Open
    Browser
    Browser