Quantative Techniques for Decision Making English 2004

Quantitative techniques often 'scare away' the students of management and the practising managers as if they are complex subjects which they are forced to learn. Taking this general apprehension of students and managers into account, this lucidly written text tries to demystify the subject, making it easy for comprehension. As the managers have to make quick decisions, the basic aim of which is to increase the bottom line of the company, namely, profits, this book aims at providing them working knowledge of operations research and its applications. The authors, aided by their vast experience in the subject, ably illustrate the various mathematical techniques such as linear programming, integer programming, goal programming, dynamic programming, theory of games, queuing theory, simulation and Markov analysis. They analyze with clarity and precision the mathematical modelling and techniques. In this process, however, only the minimum mathematics of school level has been employed. Real-world problems faced by managers in their day-to-day decision making are presented in such a way as to make the book very practical. This book, with its practical approach and straightforward style of presentation, would prove to be an ideal tool for postgraduate students of management. In addition, the book would be useful to the practising managers in their decision-making process. Quantitative techniques often 'scare away' the students of management and the practising managers as if they are complex subjects which they are forced to learn. Taking this general apprehension of students and managers into account, this lucidly written text tries to demystify the subject, making it easy for comprehension. As the managers have to make quick decisions, the basic aim of which is to increase the bottom line of the company, namely, profits, this book aims at providing them working knowledge of operations research and its applications. The authors, aided by their vast experience in the subject, ably illustrate the various mathematical techniques such as linear programming, integer programming, goal programming, dynamic programming, theory of games, queuing theory, simulation and Markov analysis. They analyze with clarity and precision the mathematical modelling and techniques. In this process, however, only the minimum mathematics of school level has been employed. Real-world problems faced by managers in their day-to-day decision making are presented in such a way as to make the book very practical. This book, with its practical approach and straightforward style of presentation, would prove to be an ideal tool for postgraduate students of management. In addition, the book would be useful to the practising managers in their decision-making process.