What is Quantitative Approach to Management?

The quantitative approach, also referred to as the management science approach, arose in prominence during and following World War II. Its origins can be traced back to the pressing need to make informed decisions concerning strategic and tactical military operations. In response to this demand, multidisciplinary groups of scientists were assembled to conduct applied scientific research in this field.

The primary objective of these research groups was to devise optimal solutions for the deployment of military resources. They sought to tackle complex military and logistical problems by applying mathematical modelling techniques. These models aimed to represent and analyze the intricacies of the challenges at hand.

By utilizing mathematical models, researchers were able to simulate various scenarios, evaluate different options, and identify optimal solutions based on specific objectives and constraints. Techniques like optimization, simulation, and statistical analysis were employed to gain valuable insights and support the decision-making process. Following the war, the quantitative approach transcended its military origins and found applications in diverse sectors, including business, industry, healthcare, transportation, finance, and government. It emerged as an invaluable tool for addressing complex problems and enhancing decision-making processes by providing a systematic and data-driven framework.