Dynamic programming, Managerial Accounting

Dynamic programming

It is an extension which finds solutions to problems involving a number of decisions which have to be made sequentially. For example, the amount of a product to be made next month may depend on the amount sold this month and so on.

Thus dynamic programming is a quantitative technique which divides a given problem into stages (or sub-problems which are interrelated). Here we attempt to find a combination of decisions which will maximize overall effectiveness.

Usually, we work backwards from the natural end of the problem until the initial problem is finally solved (as in the decision trees).

The decision made at each stage influences the next stage. This method is also termed as recursive approach.

Dynamic programming applications:

1. Manufacture and distribution troubles.
2. Organizing inventory control.
3. Resource allowance.
4. Substitution and maintenance troubles.

Posted Date: 12/7/2012 7:07:31 AM | Location : United States







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

Write discussion on Dynamic programming
Your posts are moderated
Related Questions
When the customers of the company are spread over broad geographical areas then in place of a particular collection centre the company opens collection centres at the regional stag

During 2010, Jackson Company estimated that its manufacturing employees would work 80,000 direct labor hours. During the year the company actually worked 75,000 direct labor hours.

I need help with a solution in the Cornerstones of Financial and Managerial Accounting textbook, Chapter 11, problem 11-51B on page 578. I need to create a statement of cash flows

Price sensitivity Nagle has identified nine factors that contribute to price sensitivity and has also presents various methods or techniques to measure it. The factors that con

When the stock market is going up over a long period of time, investors can become complacent about the risks of being a stockholder. After the significant decline of the stock mar

Consider the following quality data for three different manufacturers of automobile weather-strips: Weather-strip Bulb Dimension Specification y=20 +or- 4mm

Ross White's machine shop uses 2,500 brackets during the course of a year, and this usage is relatively constant by the year. These brackets are purchased from a supplier 100 miles

what are characteristics of relevant cost?

Describe the impact of different types of standards on motivations and specifically,the likely effect on motivation of adopting the labor standard recommended?