Abstract

It is evident that linear programming model remains the most potent mathematical tool for the efficient allocation of scarce operational resources of an organization. Whilst projecting the graphical method as the easiest solution approach to linear programming where only two constraining factors are involved, the more complicated simplex method offers the freedom to solve problems involving more than two operational factors. A recent analysis of real life operational activities of a small manufacturing company using both methods to find the best mix for combining constraining resources for optimal performance, however, revealed that the simplex method though may be effective in dealing with multiple constraining factors, it does so at the price of sub-optimal decision solution truncating vital non-linear information ordinarily accounted for by other analytical methods. This paper suggests a modified approach to using the simplex method in solving business related linear programming problems to ensure optimal decision in resource allocation.

Full Text
Paper version not known

Talk to us

Join us for a 30 min session where you can share your feedback and ask us any queries you have

Schedule a call

Disclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.