INNOVATIVE METHODS OF INFORMATION GENERATING FOR DECISION MAKING PROCESSJournal: Science and world (Vol.2, No. 18)
Publication Date: 2015-02-18
Authors : Madieva K.S.; Razlivaeva L.V.; Niykanbaeva A.I.; Furmanova M.A.;
Page : 38-42
Keywords : scarce resource; constraint; linear programming.;
The paper considers theoretical and practical issues of information generating for decision making process based on linear programming. Not all businesses are well positioned for production within the expected demand: there could be capital constraints (lack of materials and equipment if its purchase or rent is impossible) or labour constraints (insufficient working hours or lack of additional workers hiring). The paper finds out that the use of linear programming allows finding appropriate combination of outcomes maximising or minimising a given objective function. In quantitative terms specified objective reflects the objective function often formulated as maximised profits or minimised costs. The practical application of linear programming will enable to form the production function of the enterprise in presence of several scarce resources (constraints): labour constraint, capital constraint, processes constraint.
Other Latest Articles
Last modified: 2016-07-09 22:22:43