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Paper Details

Paper Title
operation research in manufacturing and exports
Abstract
Globalisation of market and operations places tremendous pressure in making timely and accurate decisions using data analysis and more accurate information. The increasing specialisations have created new problems which now cannot be based on a single criterion. It is impossible to squeeze the complexity of opinions, motivations and the goals found in organizations and industry into a single objective. Therefore, decisions may involve several objectives that are conflicting in nature. The presence of several criteria which are wholly or partially contradictory in nature leads to the development of multi-criteria decision making problems or multi-criteria optimization problems. Therefore, decision making is a multi criteria optimization. This signifies the importance of developing suitable Operations Research techniques and models This paper is addressed to indicate operations research application in the jewellery sector. The methodologies, techniques of OR are used by managers to deal with problems and constraints related to logistics, supply chain, inventory management. When jewellery is manufactured and exported, Operations Research finds its application in order forecasting, raw material procurement, manpower allocation and labour management, planning of equipment and consumer durables, final quality assurance and logistics. It is highly advantageous in taking planning decisions and it helps improve production efficiency. This paper will highlight the extent to which Operations Research is used in these steps, its advantages and limitations. An overview of export operations of jewellery sector is given which is basically a three part process: pre-shipment, transport, and after-sale. Each of the three will be considered in turn from the perspective of business professionals attempting to expand their companies interests across national boundaries.
KeyWord
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Others Details
Paper Id : 95129
Author Name : Harshneet Bhatia
Co-Author Name(s) : Harshita PhallorFinella ShahChetna GuptaDevashish Didi
Volume/Issue No : Volume 04 Issue 11
Page No : 107-115
DOI Number : DOI:10.21090/IJAERD.95129
Publication Date : 2017-11-09
License : This work is licensed under a Creative Commons Attribution 4.0 International License.
website : http://www.ijaerd.com/index.php
Impact Factor : 4.72, SJIF-2016
ISSN Details : eISSN: 2348-4470, pISSN:2348-6406