LINEAR PROGRAMMING

  • In Operation Research, Linear Programming Model is used to find a solution for optimising a problem or objective.
  • The objective may to maximise or minimise a problem.
  • Both Objective Function and Constraints must be expressed in linear expressions.

INVENTORY CONTROL METHOD

  • Inventory model helps in optimising problems related to the stock of goods like when to buy, how much to buy, how much to keep in stock etc.

GOAL PROGRAMMING

  • When there is more than one goal, i.e., several objectives (a real life situation).
  • These several objectives have their own goals to complete.

QUEUING MODEL

  • This type of model is totally based on the concept of probability.
  • Indicates system ability and changes possible on modifying.
  • This can’t be seen as an optimising process.
  • This model provides the balance between customer waiting time and service capability of the system.

TRANSPORTATION MODEL

  • This model minimises (studies) the cost of transporting a commodity from different sources to their destinations.
  • The demand and supply are known, and this model develops an integral transportation schedule.

ASSIGNMENT MODEL

  • A special case of Transportation problem.
  • Deals with problems involving allocation of ‘n’ different facilities o ‘n’ different tasks.
  • Its objective is to minimise cost or time of completing ‘n’ jobs by ‘n’ persons and maximise revenue and sales.
  • This model is mostly used for planning.

NETWORK ANALYSIS

  • A special type of technique (a network of inter-connected components) used for planning, management and control of projects.
  • In this type, a project is broken down into different components (activities, duration, time etc.), each defined by completion time (start to finish) and a relationship.
  • PERT (Program Evaluation and Review Technique) and CPM (Critical Path Method) are the two Network Analysis techniques developed in the 1950s.

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