![operational research examples operational research examples](http://web.pdx.edu/~stipakb/download/PA557/InventoryModelExample.gif)
There are many categories of products within a retail store. What is the optimal mix of merchandise in a given store to maximize sales or profits? How should this optimal mix vary across different types of geographic areas and demographic groups? How should this product mix vary throughout the business cycle? What are the optimal marketing elements to support the optimal merchandise mix? What type of store design will maximize consumer visits, time spent in store, or sales? What elements of store design are most important to consumers, and what arrangements of these elements are optimal? How should store design vary to maximize appeal to a particular demographic target or for a given location? What product mix corresponds to and supports the optimal store design? Which markets offer the greatest potential for new retail outlets? What store density maximizes sales revenue or profits? What’s the interaction between advertising investments and number of retail units? What sections of a metropolitan area offer the greatest potential for new retail units? What specific retail locations will yield the greatest return on investment? What deployment of retail units minimizes supply chain and distribution costs?
![operational research examples operational research examples](https://image.slidesharecdn.com/allcasestudies-140630081901-phpapp01/95/operational-research-case-studies-1-638.jpg)
What is the optimal number of warehouses, trucks and routes to minimize out-of-stocks, or minimize distribution costs or maximize delivery speeds? Where should the warehouses be located? What are the most efficient delivery routes? What size should the trucks be? How should the products be packaged and palletized for most efficient shipping?
![operational research examples operational research examples](https://img.yumpu.com/32136282/1/500x640/operations-research-in-health-care-st-michaels-hospital.jpg)
Operational research examples software#
Computer science technologies and software development capabilities are often critical components in successful operations research projects. The ultimate goal is to create a mathematical model that simulates real-world processes and systems so that optimal solutions can be found. The basic tools of operations research are probability theory, Monte Carlo methods, stochastic processes, queuing models, transportation models, network models, game theory, linear and nonlinear programming, dynamic programming, Markov decision processes, input-output analysis, choice modeling, econometric modeling, and other mathematical techniques and algorithms. Operations research (or operational research, as it's called in Europe) refers to scientific methods (statistical and mathematical modeling, experiments, simulation, and optimization) applied to the solution of complex business problems. The terms Operations Research and Management Science tend to be used synonymously. Operations research is about deriving optimal solutions to maximize sales or profits and/or to minimize costs, losses, or risks. Videos - Leadership Strategy Interviews.Predictive Analytics & Marketing Research.