Advantages Of Operation Research Models

Introduction:

Management deals with reality that is at once complex, dynamic, and multifaceted. It is neither possible nor desirable, to consider each and every element of reality before deciding the courses of action. It is impossible because of time available to decide the courses of action and the resources, which are limited in nature. More over in many cases, it will be impossible for a manager to conduct experiment in real environment.

Some of the Points to be Remembered while Building a Model

•         When we can solve the situation with a simple model, do not try to build a complicated model.
•          Build a model that can be easily fit in the techniques available. Do not try to search for a technique, which suit your model.
•          In order to avoid complications while solving the problem, the fabrication stage of modeling must be conducted rigorously.
•          Before implementing the model, it should be validated / tested properly.
•          Use the model for which it is deduced. Do not use the model for the purpose for which it is not meant.
•          Without having a clear idea for which the model is built do not use it. It is better before using the model; you consult an operations research analyst and take his guidance.
•         Models cannot replace decision makers. It can guide them but it cannot make decisions. Do not be under the impression, that a model solves every type of problem.
•          The model should be as accurate as possible.
•          A model should be as simple as possible.
•          Benefits of model are always associated with the process by which it is developed.

Advantages of a Good Model

1.       A model provides logical and systematic approach to the problem.

2.       It provides the analyst a base for understanding the problem and think of methods of solving.

3.       The model will avoid the duplication work in solving the problem.

4.       Models fix the limitation and scope of an activity.

5.       Models help the analyst to find newer ways of solving the problem.

6.       Models saves resources like money, time etc.

7.       Model helps analyst to make complexities of a real environment simple.

8.       Risk of tampering the real object is reduced, when a model of the real system is subjected to experimental analysis.

9.       Models provide distilled economic descriptions and explanations of the operation of the system they represent.

Limitations of a Model

1.       Models are constructed only to understand the problem and attempt to solve the problem;they are not to be considered as real problem or system.

2.       The validity of any model can be verified by conducting the experimental analysis and with relevant data characteristics.