Application of Linear Programming

1.    Product Mix.

Most popular application of linear programming is in product mix decision, i.e., in deciding how much quaintly  of each product should be made to maximize profit or minimize cost while making best use of the given production facility or considering the limited availability of men, material, machines , money, markets etc.

2.    The Diet Problem.

The diet (or feed mix) problem arises whenever the manager is to determine that optimal combination (or program) of diet of feed mix, which will satisfy specified nutritional requirements and minimize the total cost of purchasing the diet. Data for a typical diet problem are given in the following table:

3.    The Portfolio Selection Problem.

A portfolio selection problem arises whenever a given amount of money is to be allocated among served investment opportunities. The portfolio selection problem is quite general in the sense that it can exist for individuals, trust-fund managers, or corporations. The component of the portfolio can be bonds, savings certificates. Portfolio selection Problem like other allocation problems can be formulated mathematically at different levels and solved by L.P.P.

4.    Media selection.

LPP has also been used in advertising field as a decision aiding selecting the effective media. Media helps the marketing managers in allocation of fixed budget across various advertising media like newspapers, magazines, raid and television etc. In most of these cases the objective is taken to be the maximization of audience exposure.

5.    Blending problem.

When product can be made from a number of available raw materials of various composition and priest hen such problem is called blending problem in LPP.

The manufacturing process involves mixing of three various types of materials in specific quantities. Supply of raw materials and these specifications are the contradicts in obtaining the minimum raw material cost. Our solution indicates the number of units of each raw material faced by petroleum industry. Chemical industry, food industry, textile etc. 

6.    Transportation Type Problem.

In transportation type problems an arrangement for transporting the homogenous products form n sources to m detonations is made at minimum cost. The transportation models arise in situations involving physical movement of goods form plants to warehoused, warehouses to wholesalers, wholesaler to retailers and retailers to customers. Solution of the transportation models requires the determination of how many united should be transported form each supply origin to each demands destination in order to satisfy all the destination demands whole minimizing the total associated cost of transportation.

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