1 Answer | Add Yours
In production and operations management, models refer to any simple representation of reality in different forms such as mathematical equations, graphical representation, pictorial representation, and physical models. Thus a model could be the well known economic order quantity (EOQ) formula, a PERT network chart, a motion picture of an operation, or pieces of strings stretched on a drawing of a plant layout to study the movement of material. The models help us to analyze and understand the reality. These also help us to work determine optimal conditions to for decision making. For example, the EOQ formula helps us to determine the optimum replenishment quantities that minimize the cost of storing plus replenishing.
The number of different models we use in production and operations management run into hundreds, or even more than a thousand. These are really too many to enumerate in a place like these. I am listing below a random list of broad categories of models used in production and operations model.
- Operations research models. This is actually a very broad classification and covers many of the other categories in the list given here.
- Inventory models
- Forecasting models
- Network models
- Linear programming models
- Queuing models
- Production planning and control models
- Engineering drawings
- Photographs and motion pictures used in time and motion studies.
- Material movement charts
- Process flow diagrams
- Systems charts
- Statistical process control charts.
- Variance analysis
- Regression analysis
- Organization chart
- Fishbone chart
We’ve answered 315,859 questions. We can answer yours, too.Ask a question