Management Science Roundup.

The article discusses the developments in the field of management science. Over the last four years Manufacturers Hanover Trust Company's Operations Research Department has developed approximately 100 models that are currently used throughout the bank. A group of 40 models has been set aside and designated as FINTECH. FINTECH is an acronym which stands for financial technology, combining bank expertise with modern management sciences techniques and the computer. Bankers are required to have, as a prerequisite, expertise in money management. It is, therefore, mandatory that they be able to solve complex problems both rapidly and accurately. To achieve this end FINTECH was created to analyze and solve daily problems which exist in the banking environment. The selling of FMC's Forecasting System started with discussions among divisional management. The FMC Forecasting Model can take into account the trends and seasonal fluctuations in the sales data and can also measure the impact of certain factors related to the product sales.