NOF Consulting

We also welcome Operational Research consultancy work from other industries. Operational Research (O.R.) is the discipline of applying advanced analytical methods to help make better decisions (Definition by The OR Society). By using techniques such as mathematical modelling to analyse complex situations, operational research gives executives the power to make more effective decisions and build more productive systems. OR is also known as Operations Research or Management Science.

Organisations may seek a very wide range of operational improvements - for example, greater efficiency, better customer service, higher quality or lower cost. Whatever the business engineering aim, OR can offer the flexibility and adaptability to provide objective help.

Operational researchers address the task of solving problems primarily by building models. Models enable problems to be analysed, structured, "solutions" obtained and predictions made. There are three main types of models: physical, mathematical and simulation. At NOF Consulting we use mathematical and simulation models.

The "solutions" derived from models depend on which type of model has been used. Mathematical models using well-defined optimisation techniques yield optimal solutions. If, however, heuristic or simulation models are used then it is less likely that optimal solutions will be obtained but rather solutions which are satisfactory or approximate.

OR has applications in practically every industry.

Check the 7 signs that an organisation could benefit from OR or the Science of Better brochure.

This information has been taken with permission from The OR Society Website.

For more about OR, take a look at the new website OPERATIONAL RESEARCH: SCIENCE OF BETTER. This website explains 'how time starved executives make better decisions with less risk'.

Or download the brochure:

 

Dice
Copyright © NOF Consulting
Valid HTML 4.01 Transitional Valid CSS!