The Quantitative Models in Decision Making

Quantitative models are structures, patterns, and layouts of ideas made with the particular assignment and having a complex mathematical and statistical value which has an aim of improving an institution. Most models existing today were made by noble personnel in the society to improve the operation of an organization such as a business by providing a clear and easy way for making decisions. We have models like supply chain management models which assist the related group in making logistic decisions as far as the development and profit-making are concerned [Thulasidas, M,2010].

Moreover, the value of information in this model like the supply chain management is of great importance and has spurred up an important stream of analytical research. This medium has made it easy to collect and process ideas related to the business[Thulasidas, 2010]. The supply chain which has been the center and the route of many upcoming models in the society. This has brought many together and more so the scientific intellectuals who has pulled up together their ideas hence improving the success of the business organization. Despite this, the issue of pricing has also matched the supply and demand of goods in the market.

The emergence of various models in the society is assisting the current organizations in making logical decisions as far as profit issues are concerned.The high achievement so far in the line of business has brought together greater minds and hence a pool of ideas and improvements putting the society at greater heights. Many models should be created in the society of business organization to make it easy for the material team to pass even information to the juniors staff for better results [Thulasidas, M. 2010].

 

Work cited

Thulasidas, M. (2010). Principles of quantitative development. Chichester, West Sussex, England: Wiley.