Operations Research M.COM ABST SEMSTER – 2 PAPER – 3

Operations Research (M.Com ABST) – Complete Course

📘 Course Description

Operations Research (OR) is the science of decision-making using mathematical models and analytical techniques. This course has been designed for M.Com (ABST) students who want to master OR concepts and apply them in business, accounting, and management.

By joining this course, you will gain practical skills to optimize resources, reduce costs, and improve efficiency in real-life situations.

📚 Detailed Syllabus

Unit I: Introduction to Operations Research

• Meaning, definition, and scope.
• Characteristics & importance in business.
• Limitations and real-life applications.

Unit II: Linear Programming (LPP)

• Formulation of LPP.
• Graphical method (two variables).
• Simplex method for complex problems.
• Applications: product mix, cost minimization.

Unit III: Transportation & Assignment Problems

• Transportation problem: NW Corner, Least Cost, VAM, MODI.
• Assignment problem: Hungarian method.
• Applications in supply chain & job allocation.

Unit IV: Decision Theory

• Decision-making under certainty, risk & uncertainty.
• EMV, EOL, Maximin, Maximax, Laplace criteria.
• Real-life examples: investments, project evaluation.

Unit V: Game Theory

• Two-person zero-sum games.
• Pure & mixed strategies.
• Dominance rule, graphical & algebraic methods.
• Applications in pricing & competitive strategy.

⚡ Quick Revision Points

• OR = scientific decision-making.
• LPP = optimization tool.
• Transportation/Assignment = minimize cost, maximize efficiency.
• Decision Theory = better choices under uncertainty.
• Game Theory = strategies for competition.

🚀 Why Join This Course?

• Step-by-step problem explanations.
• Real-life applications for business & commerce.
• Student-friendly notes + exam-oriented teaching.
• Boost your marks + analytical skills at the same time.