Is an optimization technique, to maximize the profit or to reduce the cost of the system. Linear programming used in wide area of application such as marketing, production, financial, Budgeting, transportation and much more. The founder of linear programming is leonid kantorovich, a Russian mathematician in 1939.
Linear Programming in Maths Model:
In a mathematical statement linear programming includes a set of linear equations which represents the conditions of the problem and a linear function which express the objective of the problem. It helps the to take better decisions in the management rather than a substitute of things.
Limitations or Problems of Linear Programming Model
- Limitations and constraints are not given to a large problem.
- Linear programming yield fractional valued answers for the decision variables.
- In some cases both the objective function and constraints in linear form cannot be expressed.
- Is a mathematical technique used in solving single objective problem
- Long term objective of the management cannot be resolved with a single goal.
- The problem can be solved only when there is a clear representation of linear relationship between different variables.
Advantages of Linear Programming:
- The main advantage of linear programming is its simplicity and easy way of understanding.
- Linear programming makes use of available resources
- To solve many diverse combination problems
- Helps in Re-evaluation process- linear programming helps in changing condition of the process or system.
- Linear programming is adaptive and more flexibility to analyze the problems.
- The better quality of decision is provided.
Disadvantage of Linear Programming:
- Linear programming works only with the variables that are linear.
- The idea is static, it does not consider change and evolution of variables.
- Non linear function cannot be solved over here.
- Impossibility of solving some problem which has more than two variables in graphical method.
Application Of Linear Programming:
- Manufacturing unit
- Transport system
- Computer science
- Engineering Model