Ph.D Management Science and Operations Management

Management science, any application of science to the study of management. Originally a synonym for operations research, the term management science (often used in the plural) now designates a distinct field. Whereas operations research affords analytical data, statistics, and methods to increase the efficiency of management systems, management science applies these tools in such fields as data mining, engineering, economic forecasting, and logistics. Operations management (OM) is the administration of business practices to create the highest level of efficiency possible within an organization. It is concerned with converting materials and labor into goods and services as efficiently as possible to maximize the profit of an organization.