AN ASSESSMENT OF THE APPLICATION OF OPERATIONS RESEARCH TECHNIQUES IN THE DECISION MAKING PROCESS OF MANUFACTURING COMPANIES

📄 Project Abstract

In today's complex and aggressive business environments, it is only an effective decision making that gives organizations an edge over their competitors. Since organizations continuously make decisions, managers should ensure that it is done scientifically so as to minimize the inherent risk of errors in the subjective approach to decision making. This work seeks to appraise the application of operations research techniques in the decision making processes of manufacturing companies. This study therefore sets to identify the various operations research tools applied in decision making, the benefits of using operations research and the various limitations to its application. The target population of this study is made up of the entire top, middle and lower management staff of the selected manufacturing companies; Innoson, Anammco and Juhel Nigeria Limited. Stratified sampling method was adopted so as to give a fair representation to the selected organizations in the ratio of 3:5:2 using...