CLASS - 12 ACADEMIC YEAR - 2024 -25 ADD. NO. - 995 CONCLUSION
Matrices provide a structured and ef cient approach to solving
complex supply and demand problems, particularly when dealing with multiple sources and destinations. Here's a summary of how matrices are applied in these contexts and the advantages they offer: • Representation of Data • Linear Equations System • Linear Equations System • E ciency and Scalability • Sensitivity Analysis: Using matrices to solve supply and demand problems offers a systematic, exible, and computationally ef cient approach. The ability to represent complex relationships and constraints in a compact form, apply powerful optimization techniques, and perform sensitivity analyses makes matrices an invaluable tool in operational research and logistics planning. As supply chains and logistical networks continue to grow in complexity, the role of matrices in nding optimal solutions becomes even more critical. ffi fl fi fi fi INTRODUCTION
Matrices are powerful tools in linear algebra that can
ef ciently handle systems of linear equations. They are particularly useful in various elds, including economics and logistics, where they can model and solve problems related to supply and demand. This introduction will explain the basic concepts and provide an example of how matrices can be applied to solve supply and demand problems. Basics of Matrices
A matrix is a rectangular array of numbers arranged in rows
and columns. Each number in a matrix is called an element. Matrices can be used to represent systems of linear equations, which are equations that involve linear combinations of variables. Introduction to Supply and Demand Problems Supply and demand problems typically involve determining the optimal distribution of goods from several suppliers to several consumers while minimizing costs or maximizing pro ts. Key components include: • Suppliers: Entities that provide goods or services. • Consumers: Entities that need goods or services. • Supply and Demand Constraints: Each supplier has a limited supply, and each consumer has a speci c demand. • Cost Matrix: Represents the cost of transporting goods from each supplier to each consumer. fi fi fi fi