In this case, the linear programming with its sensitivity analysis asserts that selecting a business activity based merely on the amount of its apparent profit may lead to an improper business decision. An exam
Decision making is an important aspect of the Performance Management syllabus, and questions on this topic will be common. The range of possible questions is considerable, but this article will focus on only one: linear programming The ideas presented in this article are ...
Optimization: Linear programming allows for the optimization of resources, costs, and profits, leading to better decision-making and improved efficiency. Resource Allocation: It helps in allocating scarce resources efficiently, ensuring maximum utilization and minimal wastage. Complex Problem Solving: Linear...
Multiple criteria decision making (MCDM) is prevalent in our daily life. The LINMAP (the abbreviation of linear programming techniques for multidimensional analysis of preference) method [23] is a practical and useful approach to solve the MCDM problems. The underlying logic of the LINMAP method is...
Linear programming is widely used in engineering decision-making to optimize resource allocation, such as minimize costs, maximize profits, or maximize output, subject to a set of constraints. For example, a refinery might use linear programming to determine the optimal crude oils to purchase to ma...
Maximin programming, fuzzy linear programming and multi-criteria decision making. J. Oper. Res. Soc. 31, 263-267.Dyson, R.G. (1980) Maximin Programming, Fuzzy Linear Programming and Multi-Criteria Decision Making. The Journal of the Operational Research Society 31: pp. 263-267...
International Conference on Intelligent Systems in Production Engineering & MaintenanceKoz艂owski E., Mazurkiewicz D., Kowalska B., Kowalski, D. Binary Linear Programming as a Decision-Making Aid for Water Intake Operators. In: Burduk A., Mazurkiewicz D. (eds) Intelligent Systems in Production ...
Interactive decision makingIn this paper, we focus on multiobjective linear fractional programming problems with fuzzy parameters and present a new interactive decision making method for obtaining the satisficing solution of the decision maker (DM) on the basis of the linear programming method. The ...
Novak, J.: Linear programming in vector criterion Markov and semi-Markov decision processes. Op- timization 20, 651-670 (1989)Novak J.Linear programming in vector criterion Markov and semi-Markov decision processes. Optimization . 1989Novak J.Linear programming in vector criterion Markov and semi...
Although widely used now to solve everyday decision problems, linear programming was comparatively unknown before 1947. No work of any significance was carried out before this date, even though the French mathematicianJoseph Fourierseemed to be aware of the subject’s potential as early as 1823. ...