Operation Research and Quantitative Techniques

The advent of Operation Research (commonly known as OR) was second world war. The name was also derived from its use for research on Military Operations during the war. Operations Research (OR) (a term coined by McClosky and Trefthen in 1940) was a technique that evolved during World War II to effectively use the limited military resources and yet achieve the best possible results in military operations. In essence you can state that OR is a technique that helps achieve best (optimum) results under the given set of limited resources. Over the years, OR has been adapted and used very much in the manufacturing sector towards optimization of resources. That is to use minimum resources to achieve maximum output or profit or revenue...