164 Information Technology in Operation Analysis Available to Purchase

This paper discusses the role of Quantitative techniques in Business Management. How the business organizations can use those as business applications and competitive advantage tools. Some of the topics covered in this paper are:

➢ Hungarian Method for Solving Assignment Problem

➢ Unbalanced Assignment Problem

➢ Restricted Assignment Problem

This paper will attempt to demonstrate assigning ‘n’ number of resources to ‘n’ number of activities. Any organization involves planning, scheduling, and controlling a number of inter related activities with use of limited resources, namely men, machines, materials, money and time. The assignment problem has varying degree of efficiency for performing different activities such a job. Therefore Cost, Profit or time performing different activities is different. Designing a layout to construction of a power plant, highway, shopping complex, ships and air craft's, introduction of new products and research and development projects. It is required that managers must have dynamic planning and scheduling system to produce the best possible results and also to react immediately to the changing conditions and make necessary changes in the plan and schedule. Convenient analytical and visual techniques are used such as Hungarian method, unbalanced assignment problem and restricted assignment problem.