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Operation Research "Operations Research is essentially a collection of mathematical techniques and tools which in conjuction with a systems approach are applied to value practical decision problems of an economic or engineering nature." Operation research is applied decision theory. It uses Scientific, Mathematical or logical means to attempt to cope with the problems that confront the executives. Application of Operation Research Operation Research is a technique which has a wide area of specification. Some of them are as follows:- Finance & Accounting - Dividend policies, Investment and Portfolio management, Auditing, Balance Sheet and Cash flow analysis - Break even analysis, Capital budgeting, cost allocation, financial planning. - Claim & complaint procedure & public accounting - Establishing costs for by products and developing standard costs. Marketing - Selection of product mix, marketing and export planning - Best time to launch a new product - Sales effort allocation and assignment - Predicting customer loyalty - Advertising, Media planning, Selection and effective planning packaging alternatives. Purchasing...

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