Management Science Writing Assignment

Management Science Writing Assignment

Management Science is concerned with the developing and application of models and concepts to assist management in decision making. The name management science is occasionally substituted by headings such as quantitative methods, quantitative analysis, decision sciences and operations research which also deal with the applications or aspects of management science. This area of study comprises of many different techniques and scientific approaches that creates the possibility for businesses or management to ensure the continued efficiency and productivity of their firms.

The use of these scientific approaches are very credible and are used frequently worldwide in many different situations and business scenarios; surrounding a variety of mathematical disciplines such as statistics and mathematics for engineering; this science enables the assistance managers need in these modern times to resolve many issues or problems encountered in-order to move forward as a profitable organization. These management science techniques also assist to solve problems in Governmental institutions, military and health care institutions. Integer programming is one of the many applications of management science that allows hospitals to utilize an integer programming model to develop a master surgical schedule that allocates operating room time to different surgical departments. The program consists of a use of a variety of variables. Another application or approach which assists management decisions is linear programming. This involves when managers attempt to solve general type problems by seeking an objective that is subject to restrictions. Three aspects must be present in-order for this application to work; the problem identified must be solvable by such programming, the unstructured problem must be formulated as a mathematical model and the model must be solved by

using mathematical techniques. Management use linear programming to assist in the minimization of cost and maximization of profits. Manufacturing companies use linear programming to determine the amount of particular or all natural resources needed in certain areas, to know what to produce and what not to, in-order to maximize their profits.

Management science is greatly involved in the controlling of inventory levels for companies in relation to issues of availability and storage and addressing transformation problems. Managers rely on this science to engage in production at the lowest cost possible; whether cost relating to purchasing of resources, manufacturing or transporting; these applications or techniques educates management on the knowhow. As an example, the Welch's Company uses a spreadsheet based linear model. One of such models referred to as the juice logistics model, involves 324 decision variables and 361 constraints to minimize the combine cost of transporting grape juice between plants and the product recipe at each plant and the carrying cost of storing grape juice.

There is evidence that managers cannot and it is advised that they should solely rely on management science for business decision making, even though it has the capability of increasing efficiency and effectiveness. Managers need to utilize the behavioral perspective in the various organizations which they are