The study focuses on the development of a simple and accurate global/local method for calculating the static response of stepped, simply-supported, isotropic and composite plates with circular and elliptical cutouts. The approach primarily involves two steps. In the first step a global approach, the Ritz method, is used to calculate the response of the structure. Displacement based Ritz functions for the plate without the cutout are augmented with a perturbation function, which is accurate for uniform thickness plates only, to account for the cutout. The Ritz solution does not accurately satisfy the natural boundary conditions at the cut-out boundary, nor does it accurately model the discontinuities caused by abrupt thickness changes. Therefore, a second step, local in nature is taken in which a small area in the vicinity of the hole and encompassing other points of singularities is discretized using a fine finite element mesh. The displacement boundary conditions for the local region are obtained from the global Ritz analysis. The chosen perturbation function is reliable for circular cutout in uniform plates, therefore elliptical cutouts were suitably transformed to circular shapes using conformal mapping. The methodology is then applied to the analysis of composite plates, and its usefulness successfully proved in such cases. The proposed approach resulted in accurate prediction of stresses, with considerable savings in CPU time and data storage for composite flat panels.