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ADVANTAGES AND DISADVANTAGES OF LP

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- 1. Quantitative methods Advantages and limitations of LPP Presented by, Roshan V.V. 1st MBA (“B” section) VVCE,Mysuru.
- 2. LINEAR PROGRAMMING What is LP ? Linear programming is used to describe the relationship between two or more variables which are proportional to each other. The word “programming” is concerned with the optimal allocation of limited resources. Linear programming is a way to handle certain types of optimization problems Linear programming is a mathematical method for determining a way to achieve the best outcome
- 3. DEFINITION OF LP LP is a mathematical modeling technique useful for the allocation of “scarce or limited’’ resources such as labor, material, machine ,time ,warehouse space ,etc…,to several competing activities such as product ,service ,job, new equipments, projects, etc...on the basis of a given criteria of optimality
- 4. ADVANTAGES OF L.P. It helps in attaining optimum factors. use of productive It improves the quality of the decisions. It provides better tools for meeting the changing conditions. It highlights the bottleneck in the production process.
- 5. LIMITATION OF L.P. For large problems the computational difficulties enormous. are It may yield fractional value answers to variables. decision It is applicable to only static situation. LP deals with the problems with single objective.
- 6. APPLICATION OF LINEAR PROGRAMMING Business Industrial Military Economic Marketing Distribution
- 7. THANKYOU