Operations Research and Management: Quantitative Methods for Planning and Decision-Making in Business and Economics

This textbook introduces quantitative methods in operations management based on operational research. Written for undergraduate and graduate students as well as practitioners, this book serves as a valuable compendium of essential tools for project planning, control and strategic decision making.

Drawing on the expertise of both senior academics and experienced practitioners, the descriptions of each tool are a harmonious blend of theoretical insight and real-world applicability. With a focus on accessibility, the authors have thoughtfully combined abstract concepts with easy-to-follow examples and detailed case studies. This new second edition features four new chapters and has been fully revised and updated, including new material on topics such as decision theory and Gantt charts.

Readers will benefit from the wealth of well-explained recommendations and practical problem-solving approaches, where the book provides guidance on how to solve the problems presented using commercial software. Whether refining project management, optimising operations, or making strategic decisions, this book equips readers with the knowledge and skills needed to excel in the dynamic field of operations management.

Franz W. Peren is a professor of business administration at the Bonn-Rhein-Sieg University, Germany, specializing in quantitative methods. He has been teaching business mathematics, business statistics, and quantitative methods in planning, taxation, and controlling within operational and strategic management since 1993, mainly at German universities of applied sciences. He has also taught and conducted research as a visiting professor at the University of Victoria in Victoria, BC, Canada, and at Columbia University in New York City, USA. Peren’s practical experience includes acting as an adviser to the German automobile industry in the German Federal Ministry of Economics and as a strategy consultant for international enterprises. He is also a scientific director at the Institute for Regulation and Governance in Bonn, Germany.

Thomas Neifer is a research associate at the Bonn-Rhein-Sieg University of Applied Sciences. He received his doctorate in business informatics from the University of Siegen, focusing on data-driven value creation and the design of digital services. His research examines recommendation and reputation mechanisms, sustainable food consumption, and mobility services. He places particular emphasis on linking business, consumer, and data perspectives to develop innovative data-driven business models. As a lecturer, he teaches courses in operations research, data science, business informatics, statistics, and economics, integrating practice-oriented and interdisciplinary approaches.