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Goal Programming
This provides a more realistic model. In a modern setting, profit maximization may not be the only objective of a business concern. Other objectives or goals could be sound ecological management, networking in the neighborhood and maximizing market share. These goals may dominate the earlier objective.
The idea is that a decision maker may not always be searching for an optimal solution but a "satisfying" solution that attempts to satisfy the many concerns of the management. Prof. Herbert A. Simon felt that a manager may not be able to optimize but may have to "satisfy".
Simplex method requires one goal. The goals are weighted and a single objective function is constructed which is then optimized to solve a goal programming problem.
Use Big M method to Maximize(Z)=3_(x_1 )+2_(x_2 ) Subject to 3_(x_1 )+?1.5?_(x_2 )=30 x_1+x_2=20 x_1=0 x_2=0
explain operation research with example.and also discuss the scope of OR in modern management.
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#what is the similarity and differences between transportation and linear programing models?
Discuss the methodology of operation research
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After having studied as to what is operations research we shall now try to answers why its need has been felt by the industry. As already tainted out science of OR came
Problem 1 Explain the key elements, which contribute to a sound and effective strategy. >>Explanation of following elements Market Consumers Competition Skil
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