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LINEAR PROGRAMMING

ADVANTAGES AND DISADVANTAGES OF LP

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Quantitative methods
Advantages and limitations of LPP
Presented by,
Roshan V.V.
1st MBA (“B” section)
VVCE,Mysuru.
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
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
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.
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.
APPLICATION OF LINEAR PROGRAMMING
 Business
 Industrial
 Military
 Economic
 Marketing
 Distribution

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LINEAR PROGRAMMING

  • 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