Linear programming

Explanation:

Linear programming (LP)

• Linear programming (LP) in industrial engineering is used for the optimization of our limited resources when there is a number of alternate solutions possible for the problem like material selection.
• The real-life problems can be written in the form of a linear equation by specifying the relation between its variables.
• Linear programming can be applied effectively only if resources can be measured as quantities.
• Linear programming is used for obtaining the most optimal solution for a problem with given constraints.
• Using linear programming requires defined variables and constraints, to find the largest objective function (maximization).
• In some cases, linear programming is instead used for the smallest possible objective function value (minimization).
• Linear programming requires the creation of inequalities and then graphing those to solve problems.
• Some linear programming can be done manually.
• When the variables and calculations become too complex and require the use of computational software.

Areas of applications of Linear Programming (LP):

​Industrial Application:

• Product mix problem
• Blending problem
• Procurement problem
• Production scheduling problem
• Assembly line balancing
• Make-or-Buy problem

Management applications:

• Media selection problems
• Portfolio selection problems
• Profit planning problems
• Transportation problems

Miscellaneous applications:

• Diet problem
• Agriculture problem
• Flight scheduling problem