MS/OR and the Computer
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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

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    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.

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