Maximum benefit can be acquired from the operations research technique when a decision maker knows the value of this extremely powerful tool. Some of these includes:
Apart from being a powerful tool which is used for extracting the best out of any finite resource, operations research also has few shortcomings. These limitations only show in the form of time and funds during the formulation of a satisfactory mathematical model. Therefore, the problematic area of its application is just its utility. Few of its highlighted limitations are described below.
In case of complex computations of a large number of problems, it is very difficult for a mathematical model to consider every factor of real life problems and formulate solutions accordingly.Due to this reason, the help of computers is required to calculate the developing relationships between larger variables. This aspect is considered as a discouraging factor by small firm and corporations who wish to acquire the best operations research techniques.
There are certain intangible factors like as human relationship, human emotions, adecision based on these and so on, which can affect the identification of problems. The perfect solution cannot be found out if these intangible components are removedfrom the problems. This is because few of these variables are more important than the tangible ones.
The application of operations researchis stated as a job which can be executed only by skilled professionals. These experts may be statisticians or mathematicians who have adept understanding and knowledge to formulate models, search for aneffective solution and the correct suggestion for its execution.
Managers of an organisation do not have any concept of the application of operations research technique. If they suggest any OR technique themselves, the probability of lesser comprehension regarding the problem is maximum. This perception may also create an adverse situation for the management who may not recognise the ‘why’ of that suggestion. The result can lead to a gap which may not be ideal for any organisation.