Discuss how your organization could use an operations management linear programming application to solve a problem...

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Finance

Discuss how your organization could use an operations managementlinear programming application to solve a problem or improve abusiness process.

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Definition Linear programming is a simple technique where we depict complex relationships through linear functions and then find the optimum points In this definition what does optimum points mean It simply means best result no other way to make it more efficient The maximum value we can get from that event Now Linear Programming can be used in businesses to make it more efficient reduce cost reduce wastage which in turn will increase its market value and goodwill In the field of business and management linear programming is a method for solving complex problems in the two main areas of product mix where the technique may be used where it is difficult to decide just how much of each variable to use in order to satisfy certain criteria such as maximizing profits or minimizing costs subject to certain constraints and distribution of goods Now let us discuss some specific areas where Linear Programming can be used 1 Financial Management The financial manager of a firm mutual fund See Answer

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