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Inventory models deal with the problem of determination of how much to order at a point in time and when to place an order. The main objective is to minimize the sum of three conflicting inventory costs. the cost of holding or carrying extra inventory the cost of shortage or delay in the delivery of items when it is needed a cost of ordering or setup. These are also useful in dealing with quantity discounts and selective inventory control.
How to solve linear programming problems using simplex method introducing slack variable,surplus variable and artificial variable
1. Explain the effects that MIS, DSS, CRM and ERP have on organizational communication and decision making to increase productivity and efficiency in an increasingly competitive bu
Simple Random Sampling This is simplest and most popular technique of sampling. In it each unit of the population has equal chance of being included in the samp
Question 1 What do you understand by customs duty? Explain the taxable events for imported, warehoused and exported goods. List down the types of duties in customs. An importer
what is factory act
Categories of Information in Social Sciences: It would be useful, particularly in social sciences, to group information into three categories: • Statistical Information
Operation Research may be regarded as a tool which is utilized to increase the effectiveness of the management decisions. O R is objective supplement to the subjective feeling
how to solve operation research optimization questions
The scientific method in O R study generally involves the followings three phases: 1. Judgment phase, 2. Research phase 3. Action phase
Solve the following Linear Programming Problem using Simple method. Maximize Z= 3x1 + 2X2 Subject to the constraints: X1+ X2 = 4 X1 - X2 = 2 X1, X2 = 0
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