Industrial management-Statistical methods, Management science 

This book is concerned with the use of quantitative methods to assist in decision making. It emphasizes not the methods themselves, but rather how they can contribute to better decisions. A variety of names exists for the body of knowledge involving quantitative approaches to decision making. Today, the terms most commonly used-management science (MS), operations research (OR), decision science, and business analytics-are often used interchangeably.

The scientific management revolution of the early 19005, initiated by Frederic W. Taylor, provided the foundation for the use of quantitative methods in management. However, modern research in the use of quantitative methods in decision making, for the most part, originated during the World War II periéd. At that time, teams of people with diverse specialties (e.g., mathematicians, engineers, and behavioral scientists) were formed to deal with strategic and tactical problems faced by the military. After the war, many of these team members continued their research into quantitative approaches to decision making.

Two developments that occurred during the post-World War 11 period led to the growth and use of quantitative methods in nonmilitary applications. First, continued research resulted in numerous methodological developments. Arguably the most notable of these developments was the discovery by George Dantzig, in 1947, of the simplex method for solving linear programming problems. At the same time these methodological developments were taking place, digital computers prompted a virtual explosion in computing power. Computers enabled practitioners to use the methodological advances to solve a large variety of problems. The computer technology explosion continues, and personal computers can now be used to solve problems larger than those solved on mainframe computers in the 19903.

To reinforce the applied nature of the text and to provide a better understanding of the variety of applications in Which quantitative methods (Q.M.) have been used successfully, QM. in Action articles are presented throughout the text. Each QM. in Action article summarizes an application of quantitative methods in practice. The first Q.M. in Action, Revenue Management at AT&T Park, describes one of the most important applications of quantitative methods in the sports and entertainment industry. 

Illustration ; Newsprint ; 26 cm
Includes appendices and index