Quantitative Theory Flashcards
1
Q
Category
A
Modern
2
Q
Conclusions
A
Problem identified and analyzed
Models applied
Judgement applied to results
3
Q
Lasting Impact
A
Mathematical Techniques can be used to improve decision making but must also be supported by managerial judgement
“One size fits all” policies and procedures are not effective
4
Q
Examples
A
Used to manage inventory, forcasting, resource allocation, wait times and staffing
