University : United Arab University UniLearnO is not sponsored or endorsed by this college or university.
Subject Code : MEME621
Assignment Task -                 
 

 

Description: 

Operations Research (OR) is the discipline of applying advanced analytical methods to help make better decisions. By using various techniques such as mathematical modeling, statistics, and optimization algorithms, OR gives executives the power to analyze complex systems and to make more effective decisions to build highly productive systems. 

To achieve these results, OR professionals draw upon the latest analytical technologies, including • Probability and Statistics: helping measure risk, mine data to find valuable connections and  insights, test conclusions, and make reliable forecasts 

• Optimization: narrowing choices to the very best when there are virtually innumerable  feasible options and comparing them is difficult 

• Simulation: giving the ability to try out approaches and test ideas for improvement 

Some examples in which OR is used are: 

• Locating a warehouse or distributions center to deliver materials to reduce transportation  costs 

• Production planning 

• Scheduling: personnel, machines, project tasks 

• Managing the ow of raw material and products in a supply chain 

• Designing the layout of a factory for efficient ow of materials 

• Constructing a telecommunications network 

• Determining the routes of snow plowing vehicles to minimize the time required to clear  snow and ice from the streets 

Nowadays, the problems are becoming more complicated, and there are many new factors showing up, which increases the problems’ complexity. Therefore, OR specialties need to be aware of what is new in order to evaluate problems’ complexity, which is considered a crucial skill in the operations research domain.

 

In this project, the following tasks should be performed: 

(1) What does Industry 4.0 mean? What are the impacts of industry 4.0 on our daily life? How industry 4.0 increased the problem complexity? 

(2) What are the key factors of Industry 4.0? 

(3) Identify the pros and cons of Industry 4.0. 

(4) Summarize your findings.  

(5) For each reference, identify the following: Purpose, Design/methodology/approach,  Findings, Research limitations/implications, and practical implications. 

(6) Identify some future developments?

 

 


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  • Uploaded By : Roman
  • Posted on : December 21st, 2018

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