Introduction to Quantitative Methods

SUMMARY: The emerging business scenario coupled with the tremendous growth in competition have necessitated all the production organizations, to allocate the scarce resources effectively among competing ends. Linear programming is an effective tool to deal with such allocation problems. The principles of linear programming were developed to meet the destructive purposes of World War II. However, the principles were later used by industries for constructive purposes. The techniques of linear programming simplify the otherwise complicated procedures of decision making.

The principles of linear programming are based on certain assumptions like proportionality, additivity, divisibility, and certainty. This chapter discussed the methods of formulating a real world problem as linear programming