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This book is structured to cater the needs of the young budding research scholars or students to inculcate how the advanced operations research concepts can be utilized in the real life application. In this text the author tries to give the different kind of application done using data envelopment analysis in the research arena. This text can help the young researcher how they can proceed within this data envelopment analysis application with respect to the real life business application. This book is the boon to the research community.
Manpower planning is an attempt to match the supply of people with the jobs available for them. It can also be viewed as a process by which management determines how the organization should move from its current manpower structure to desired one. Since it depends on the non-predictive behavior of human beings and also on the uncertain environment, stochastic models of manpower planning have been proposed. These models incorporate several factors such as recruitment, training, promotion, demotion and wastage. These factors are interlinked and their analysis becomes essential while dealing with manpower planning. Manpower planning becomes highly essential due to the increasing costs related to recruitment, training, promotion, demotion, etc. Hence, proper planning is required to ensure that the goal is achieved at the minimum cost. On the whole, manpower planning management strives to have the right number of persons, the right of persons, at the right places and at the right time. In order to achieve the above said objectives different kind of mathematical models have been constructed.
In recent years, Applied Actuarial Science [AAS] is being widely used for decision making in the field of Insurance sectors. As with most tools, however, AAS is useless the user understands its application and purpose. The user has to ensure the actuarial science input accurately reflects the real-life problems to be solved and that the results are correctly applied to solve them. With this in mind, this text emphasizes its applications. This book deals with two different models namely Operations Research Model and Actuarial Model. All the ten chapters covered in this text are going to be very much useful for the young budding research scholars in the field of Applied Mathematics and Actuarial Science.
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