Real life application of
linear programming in
management
Team Members
• Shrutik Berde C-04
• Dhanesh Bhoir C-05
• Aditya Patil C-38
• Nidhi Shetty C-51
• Rohit Sonawane C-55
• Ankita Thombare C-56
What is Linear
Programming?
• Linear programming is a simple technique
where we depict complex relationships
through linear functions
• we can use linear programming at
personal and professional fronts.
Common terminologies used in
Linear Programming
Let us define some terminologies used in Linear
Programming
Decision Variables
Objective Function
Constraints
Non-negativity restriction
NORTHWEST CORNER METHOD
APPLICATION OF LINEAR PROGRAMMING
1 Finance and Economics
2 Manufacturing and Production
3 Transportation and Logistics
4 Marketing and Advertising
5 Health Care
6 Environmental Management
Importance of linear programming model
Many real word problems lend themselves to and can be approximated by linear
programming models.
• Resource allocation
• Cost Minimization
• Inventory Management
• Supply chain management
• Financial Planning
• Marketing and Advertising
• Transportation Planning
• Public Policy and Government planning
Assumptions of linear programing model
• The parameter values are known with certainty.
• The objective function and constraints exhibits constant between to
scale.
• Their are no interactions between the decision variables.
• The continuity assumptions variables can take on any value within a
given feasible range.
CONCLUSION
The outcomes of linear programming encompass a range of valuable insights and results that contribute
to informed decision-making and optimized solutions in various fields. Here are some key outcomes of
applying linear programming:
•1. Optimal Solution:
•2. Resource Allocation
•3. Cost minimization
•4.Profit maximization
•5.production planning
•6.logistics and supply chain
In essence, linear programming offers a systematic approach to making optimal decisions
within constraints, enhancing efficiency, and guiding resource allocation across a wide
array of practical situations.
THANK YOU
