Master Linear Programming Methods using Simplex method
Learn Linear programming model and problems (LPP) using Simplex method
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What You Will Learn!
- Construct Linear programming method using simplex method
- Create a simplex table using simplex method
- Establish a basic initial feasible solution and complete the creation of simplex table
- Perform optimality test for an LP model using the Simplex method
- Solve LP problem using simplex method when there are multiple optimal solutions or degeneracy
- Solve LP problem using the simplex method in case of minimization objective, degeneracy infeasibility.
- Solve linear programming problems using the Big M method
Description
Rarely the resources to run a company are available in the unlimited quantities. There is always a restriction. Each resource – labour, money, material, equipment is available in its specific quantity which sets a limit on its use. The problem most commonly face by the management is to decide the manner in which these limited resources should be used to achieve the desired objective i.e. profit maximization/cost minimization etc. Here linear programming technique proves to be of great help to the management in the decision-making process. It is a mathematical technique for allotting limited resources of a firm in an optimal manner. This technique embraces almost every functional area of the business-like production, finance, marketing, distribution etc. in every type of industry.
A few areas of application of linear programming technique are production scheduling, assembly line balancing, make or buy decisions, media selection, profit planning, portfolio selection, manpower scheduling, flight scheduling, environment protection, diet problems etc.
In this course, you will learn the simplex method to solve linear programming problems. The different type of problems includes maximization, minimization, multiple optimal solutions, degeneracy, infeasible solution and unrestricted variables etc. You will also learn how to handle linear programming problems using simplex method when the constraints have ‘greater than equal to’ or simply ‘an equal to’ sign which is also known as Big M method.
Who Should Attend!
- The course can be useful for students studying operations management, professionals working in IT industry.