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Operations Management: An Introduction To Linear Programming

Linear programming is a mathematical technique used by operations managers to allocate limited resources in an optimal way. It can help determine production schedules, inventory policies, investment portfolios, and advertising budgets that maximize effectiveness or profits. Typical applications include determining the most profitable production or investment levels given constraints, and allocating advertising budgets across different media to maximize sales.

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35 views7 pages

Operations Management: An Introduction To Linear Programming

Linear programming is a mathematical technique used by operations managers to allocate limited resources in an optimal way. It can help determine production schedules, inventory policies, investment portfolios, and advertising budgets that maximize effectiveness or profits. Typical applications include determining the most profitable production or investment levels given constraints, and allocating advertising budgets across different media to maximize sales.

Uploaded by

Hira Mohsin
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
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Operations Management

An Introduction to Linear Programming


Learning Objectives

• Definition of Linear Programming


• Applications
Definition

• Linear programming is a problem-solving approach developed to help


managers make decisions
• This is a mathematical technique designed to help operations
managers plan and make decisions necessary to allocate resources
Why Use Linear Programming

• Many operations management decisions involve trying to make the


most effective use of an organization’s resources
• Resources typically include Machinery (such as planes, in the case of
an airline), Labor (such as pilots), Money, Time, and Raw materials
(such as jet fuel)
• These resources may be used to produce products (such as machines,
furniture, food, or clothing) or services (such as airline schedules,
advertising policies, or investment decisions
Typical Applications

• A manufacturer wants to develop a production schedule and an


inventory policy that will satisfy sales demand in future periods
• A financial analyst must select an investment portfolio from a variety
of stock and bond investment alternatives. The analyst would like to
establish the portfolio that maximizes the return on investment
• A marketing manager wants to determine how best to allocate a fixed
advertising budget among alternative advertising media such as radio,
television, newspaper, and magazine
• The manager would like to determine the media mix that maximizes
advertising effectiveness
Web Resource

• https://brilliant.org/wiki/linear-programming/
Reference

• An introduction to Management Science – Quantitative Approaches


to Decision Making by Anderson
• Operations Management by Jay Heizer

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