Making Better Decisions: Operational Research Subtitle Venue DD

Making Better Decisions: Operational Research Subtitle Venue DD Month YYYY

Introduction In this session: What is Operational Research (OR)? How is it used solve real-life, everyday problems? It’s interesting, varied and a fun career using mathematics!

Questions

Operational Research Operational Research (OR) is the application of mathematical methods to tackle real-life problems associated with decision-making in businesses and other enterprises. OR combines: A way of thinking & communicating Analytical techniques to provide the means for making more informed and better decisions.

Origins of OR Video

Origins of OR World War II German U-Boats targeted merchant ships bound for Britain, which were loaded with important goods. The British Royal Navy decided to respond by deploying warships within convoys of merchant ships in order to offer vital protection.

Origins of OR Travel faster than large convoys and may evade the threat of combat Slower than a small convoy but heavily armed to fight off an attack

Origins of OR

EVERYONE STANDING UP!

Practical Exercise 1st person in the line, look at the person on your left. If you are taller, swap. 2nd person in the line, look at the person on your left. If you are taller, swap. 3rd person in the line, look at the person on your left. If you are taller, swap. And so on until you reach the end of the line. The last person in the line should now be the tallest and can turn around. Start again. The end of the line is the person next to someone who has turned around.

Real-life Applications of Maths

Real-life Applications of Maths

Using Technology

My Job in OR Presenter can add own notes about personal OR experience. Include slides and information on who they work for/what they do/how they go there etc.

How is Maths Applied in the Real World?

Operational Research is: The application of maths in the real world OR is the maths used in supermarkets, e.g. Understanding people’s buying patterns Determining the number of staff needed on checkouts and at what times Calculating how many of each product to be ordered and when to be delivered OR is the maths used in sport, e.g. Formula One pit stop strategy Scheduling football games Designing a stadium OR is the maths used by airlines, e.g. Calculating the number of staff required at check-in & bag drop desks Scheduling the cabin crew Setting the prices of tickets to reflect changing demand

In detail - Supermarkets OR is the maths inside supermarkets: Determining the number of staff needed on checkouts and at when / what time Calculating order quantities and delivery times Understanding people’s buying patterns

In detail - Sports OR is the maths inside sport: One day cricket Scheduling football games Designing and building a new stadium Case Study: Formula One The Challenge Determine optimal pit stop strategy The OR Solution Game theory and simulation The Value Ability to account for influential factors and increase probability of winning the race

In detail - Airlines OR is the maths inside airlines: Size? Price? Cost of operation?

When is OR Useful? When a decision is complex or it’s unclear what the main problem is When it’s uncertain what the outcome of different actions will be When you don’t know how well things are working or think they could work better When you are worried about risks When you need to take account of the views of different stakeholder groups

When is OR Used? Optimisation is a way to solve problems in which one seeks to achieve the best outcome. Simulation allows you to try out different approaches by simulating events numerous times and answer the “What if ?” question. Queuing theory is used to approximate a real queuing situation or system, so the queuing behaviour can be analysed mathematically. Other techniques include: Soft Systems Methodology Forecasting Multi-Criteria Methods Data Mining Heuristics System Dynamics

Where can OR take You? OR is an evolving discipline because the world is ever-changing. OR departments are firmly embedded within large businesses across most industries: Manufacturing Transport Retailing Marketing Financial Sector Service Sector Local/Central Government

Where can OR take You? OR is a profession where initiative, creativity and enthusiasm are equally as important as technical ability. There is great scope for you to make your mark and your future is in your own hands! OR teams are involved in projects which involve a wide range of business skills and have dealings with anyone from shop floor to boardroom. As an OR you will have the opportunity to undertake a variety of roles including: Analytical/consultancy Project management General management Lecturer/researcher

Interested? Next steps Maths GCSE and A Level, Further Maths may be required Obtain a good classification in a numerate first degree Join The OR Society – Student Membership is free! A Masters in OR is often desirable, although not always essential Gain work experience while studying, e.g. via a summer placement or voluntary work during studies

Get Involved Connect via: Email: [email protected] @ORinSchools @TheORSociety Website: www.LearnAboutOR.co.uk or www.TheORSociety.com