Optimizing Resource Allocation: A Management Science Approach

Abstract

Resource allocation is a critical aspect of management, influencing the efficiency and effectiveness of organizational operations. This paper explores the application of management science techniques to optimize resource allocation. Through mathematical modeling and analysis, this study aims to identify strategies for maximizing resource utilization while minimizing costs and enhancing overall performance. Key factors considered include demand forecasting, capacity planning, inventory management, and scheduling. The findings highlight the importance of integrating quantitative methods with managerial insights to achieve optimal resource allocation outcomes.