International Research Journal of Commerce , Arts and Science

 ( Online- ISSN 2319 - 9202 )     New DOI : 10.32804/CASIRJ

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DEALING WITH UNCERTAINTIES AND SCENARIO MODELING

    1 Author(s):  DEEPIKA DEVI

Vol -  4, Issue- 2 ,         Page(s) : 343 - 345  (2013 ) DOI : https://doi.org/10.32804/CASIRJ

Abstract

The business environment is often unpredictable and uncertain because of factors such as economic changes, government regulations, dependence on subcontractors and vendors, etc. Managers often find themselves in a dynamic, unsettled environment where even short range plans must be constantly reassessed and incrementally adjusted. All these require a change-oriented mentality to cope with uncertainties. Remember that surprise is not an element of a robust decision.

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3. Kouvelis P., and G. Yu, Robust Discrete Optimization and its Applications, Kluwer Academic Publishers, 1997. Provides a comprehensive discussion of motivations for sources of uncertainty in optimization.

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