Advantages-limitations-dynamic programming, Managerial Accounting

Advantages and Limitations of Dynamic Programming

Advantages:

(1) In certain types of problems such as inventory control management, Chemical Engineering design, dynamic programming may be the only technique that can solve the problems.

(2) Most problems requiring multistage, multi-period or sequential decision process are solved using this type of programming.

(3) Because of its wide range, it is applicable to linear or non-linear problems, discrete or continuous variables, deterministic or stochastic problems.

(4) The mathematical techniques used can be adapted to the computer.

Limitations:

(1) Each problem has to be modeled according to its own constraints and requirements. This requires great experience and ingenuity.

(2) The number of state variables has to be kept low to prevent complicated calculations.

(3) Where applicable, methods such as simplex are more efficient than general programming       approach.

Posted Date: 12/7/2012 7:10:37 AM | Location : United States







Related Discussions:- Advantages-limitations-dynamic programming, Assignment Help, Ask Question on Advantages-limitations-dynamic programming, Get Answer, Expert's Help, Advantages-limitations-dynamic programming Discussions

Write discussion on Advantages-limitations-dynamic programming
Your posts are moderated
Related Questions
Describe the Nature of standard costing The system of standard costs (standard costing) is a management technique of using predetermined costs (standard costs) for evaluating p

Incremental budgeting Incremental budgeting uses a budget prepared using a last period budget or actual performance as a base with incremental amount asses for the new budget p

I have 20pages preparing a system flowchart assignment


The Knapp Company needs to predict the labor cost in producing small carrot patch dolls. The following production information is available: Year Dolls Pr

Queue discipline 1) It refers to the manner in which customers behave in a queue, and to the order in which they are served up. For illustration; A customer may arrive at a que

FOR each of the following cases, indicate why management and the auditors determined that control deficiency was a material weakness. Case1. In our assessment of the effectiveness

what is semi average trend analysis using regression analysis method?

Constructing the Model Steps: 1) Identify the objectives of the simulation (A detailed listing of the results expected will help to clarify the output variables. 2) R

The standard cost of chemical mixture ~ PQ’ is as follows: 40% of material P @ Rs. 400 per kg. 60% of material Q @ Rs. 600 per kg. A standard loss of 10% is normally anticipated in