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Logistics Management, 2nd Edition by Vinod V. Sople

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21

Quantitative Techniques: For Optimization in Logistics

After reading the chapter, the students should be able to understand:

  • Role of quantitative techniques (QTs) in decision making
  • Application of various quantitative techniques in logistics
  • Optimization of resources using QTs

The importance of quantitative techniques (QTs) in managerial decision making is widely acknowledged. QTs for decision making are examples of using scientific methods for solving complex management problems. QTs are used for cost reduction, servicing customers and, finally, assist in decision making of business process optimization. QTs provide a tool for scientific ...

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