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QUANTITATIVE APPROACH BY G.S.N.RAMYA & RAMADEVI
HISTORY <ul><li>During World War II, mathematicians, physicists, and other scientists joined together to solve military pr...
Definition <ul><li>The quantitative approach involves the use of quantitative techniques to improve decision making. This ...
BRANCHES OF QUANTITATIVE MANAGEMENT <ul><li>management science  </li></ul><ul><li>operations management  </li></ul><ul><li...
MANAGEMENT SCIENCE <ul><li>The management science school emerged to treat the problems associated with global warfare. Tod...
Contd. <ul><li>Managers use several science applications </li></ul><ul><li>Mathematical forecasting  </li></ul><ul><li>Inv...
Operations management <ul><li>It  is the function or field of expertise that is primarily responsible for the production a...
Management information systems <ul><li>It is the name often given to the field of management that focuses on designing and...
How Do Today’s Managers use the quantitative approach?  <ul><li>The quantitative approach has contributed directly to mana...
If I don’t know the answer, maybe I can make one up! Thank u !! Questions and Comments
 
THANK YOU
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Quantitative approach 1

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Quantitative approach 1

  1. 1. QUANTITATIVE APPROACH BY G.S.N.RAMYA & RAMADEVI
  2. 2. HISTORY <ul><li>During World War II, mathematicians, physicists, and other scientists joined together to solve military problems. The quantitative school of management is a result of the research conducted during World War II </li></ul>
  3. 3. Definition <ul><li>The quantitative approach involves the use of quantitative techniques to improve decision making. This approach has also been labeled operations research of management science. It includes applications of statistics, optimization models, information models, and computer simulations </li></ul>
  4. 4. BRANCHES OF QUANTITATIVE MANAGEMENT <ul><li>management science </li></ul><ul><li>operations management </li></ul><ul><li>management information systems </li></ul>
  5. 5. MANAGEMENT SCIENCE <ul><li>The management science school emerged to treat the problems associated with global warfare. Today, this view encourages managers to use mathematics, statistics, and other quantitative techniques to make management decisions </li></ul>
  6. 6. Contd. <ul><li>Managers use several science applications </li></ul><ul><li>Mathematical forecasting </li></ul><ul><li>Inventory modeling </li></ul><ul><li>Queuing theory </li></ul>
  7. 7. Operations management <ul><li>It is the function or field of expertise that is primarily responsible for the production and delivery of an organization’s products and services. </li></ul><ul><li>Operations management is a narrow branch of the quantitative approach to management. </li></ul><ul><li>It focuses on managing the process of transforming materials, labor, and capital into useful goods and/or services </li></ul>
  8. 8. Management information systems <ul><li>It is the name often given to the field of management that focuses on designing and implementing computer-based information systems for use by management </li></ul>
  9. 9. How Do Today’s Managers use the quantitative approach? <ul><li>The quantitative approach has contributed directly to management decision making in the areas of planning and control. </li></ul><ul><li>When managers make budgeting, scheduling, quality control, and similar decisions, they typically rely on quantitative techniques. </li></ul><ul><li>The availability of sophisticated computer software programs to aid in developing models, equations, and formulas has made the use of quantitative techniques somewhat less intimidating for managers, although they must still be able to interpret the results. </li></ul>
  10. 10. If I don’t know the answer, maybe I can make one up! Thank u !! Questions and Comments
  11. 12. THANK YOU

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