Formulation of industrial problems may be generalized into different group of classical problems the package program for which is available for mechanization and for manual solutions.
Various problems of optimization can be brought to the model of linear program for which solution is available. While formulating the problem the class of the problems is to be decided and the parameters are to be defined accordingly.
Inventory control production planning product mix transportation problems etc, are very common to the industries. The cost reduction with the help of these tools is very much powerful in comparison to any other conventional methods. We can enumerate the advantages of these techniques as:
Optimum Use of Production Factors: Linear programming techniques indicate how a manager can most effectively employee his production factors b more efficiently selecting and distributing these elements.
Improved Quality of Decision: The computation table gives a clear picture of the happening with in the basic restrictions and the possibilities of compound behavior of the elements involved in the problem. The effect on the profitability due to a changes in the production patterns will be clearly indicated in the table for e, g, simplex table.
Preparation of Future Managers: These methods substitute a means for improving the knowledge and skill of young managers.
Modification of Mathematical Solution: OR presents a possible practical solution when one exists but it always a responsibility of the managers to accept or modify the solution before its use. The effect of these modifications may be evaluated from the computational steps and tables.
Alternative Solutions: OR techniques will suggest all the alternative solutions available for the same profits so that the management may decided on the basis of its strategies.
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