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Linear programming applied to Aggregate Production Planning - Research Paper Example
This research paper talks about the construction of a linear programming model applied to aggregate production planning of flat screen monitor with the aim to minimize the overall cost related to workforce planning, demand planning, inventory balance and inventory holding cost…
The research paper "Linear programming applied to Aggregate Production Planning" analyzes the employing of linear programming for the aggregate production planning that aims to minimize the overall cost associated with the aspect of planning.
Aggregate planning problems for flat screen monitor can be resolved and production optimized by using linear programming to reduce costs. Linear programming can also be used in finding an optimal solution to problems for the purpose of minimizing total costs by affecting variables such as the workforce and the demand planning, as well as the minimization of the inventory balance and holding cost. This can be attained through the minimization of the inventory investment, the variations of the production rate and the changes in the level of the workforce.
In order to optimally allocate the scarce resources, the mathematical procedure called mathematical programming or constrained optimization or simply optimization can be used. Linear programming can be defined as the most special and famous form of constrained optimization, which has been found to be applicable, in practice, in almost all the aspects of contemporary business strategies.
The most typical elements of the linear programming problem analysis comprise of the issues related to aggregate production planning and transportation.
Though, the mathematical programming is totally different from the compute programming however the computer program can help in the estimation of the optimal solution of the linear programming model. ...