Management Science
What is Management Science (MS)?
A discipline(a branch of knowledge)that attempts to aid managerial decision making by applying a scientific approach to managerial problems that involve quantitative factors ,management science is also called operations research (OR).
A rational, structured approach to problem solving and often takes a quantitative view of decision making.
History of MS/OR
Origins in World War II, when the United States and Great Britain employed mathematicians and physicists to analyze military operations to make most Effective Utilization of limited military Resources through the use of Quantitative Techniques.
Who uses Management Science?
A lot of manufacturing companies use Management Science quantitative techniques in mostly all strategic and operational areas such as choosing a new plant location, controlling production, or implementing statistical quality control.
Also service organizations such as banks, hospitals and investment firms rely on......
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