The Applicability of Linear Programming in Industry
The linear programming model is particularly suited for solving shortrun problems, i.e., problems of operations planning which do not involve investment decisions. A typical example is the planning of production under given capacity limitations. The period for which operations are to be planned is comparatively short so that the fixed equipment does not undergo any changes; the technological and economic restrictions on the company’s freedom of action remain the same during the period, and the production program will have to respect these limitations.
KeywordsSchedule Problem Investment Decision Idle Time Linear Programming Model Optimal Program
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