Page 1 : a 1.5. MANAGEMENT APPLICATION OF OPERATIONS RESEARCH, , , , Some of the areas of management decision making, where the 'tools' and 'techniques' of OR are, applied, can be outlined as follows., , , , Area, , Application, , , , Finance, , Divided policy making investment and budgeting portfolio analysis, cash, flow analysis, credit risks, ete., , , , , , Accounting, , Cash flow planning, Credit policy analysis, Planning of delinquent account, strategy, , , , Marketing, , Advertising and media planning, product selection, timing, and, competitive action recruitment of sales men., , , , Personnel, , Selection of personnel, mixes of age and skills recruitment policies and, assignment of jobs., , Manpower planning, wage (or salary) administration scheduling of, training programmes,, , , , Construction, , Allocation of resources to projects., Determination of proper workforce., Deployment of workforce., , Project scheduling, monitoring and control,, , , , , , ilities Planning, , , , Factory size location decision., , distribution centres and retail outlets, , , , Location and size of wareho:, ‘Transportation, loading and unloading., , em design, layout,, , , , Logistics sys, , , , Manufacturing, , Employment, training, layoffs, quality control, Aggregate production, planning, assembly line, blending purchasing production, scheduling,, production smoothing, Inventory control., , , , , , Research and, Development, , , , , , Control of R and D projects., Product introduction planning., Organisational behaviour and control., , , , , , a 1,6. MODELLING IN OPERATIONS RESEARCH, , An OR model is some sort of mathematical description of various variables of a s, , , , , , tem, , , , representing some aspects of a problem on some subject of interest or inquiry. The model enables