Computers as aids to management decisions: application to linear programming
Abstract
The variables that need to be incorporated into management decision-making have increased manifold.
At the same time, the magnitude of inputs that have to be committed to projects has increased
considerably making sub-optimal decisions very expensive. Hence the need to use advanced methods to
aid decision-making,
While there exist concepts and tools that allow a formal incorporation of these complex factors into
decision-making, there has been a dearth of requisite data and a lack of capabilities to process the
data quickly.
Computers have now made possible the application of formal quantitative methods as aids to better
decision-making,,
In this article are discussed some aspects of applying some of these quantitative concepts and tools
to certain types of complex business problems. Specifically, the application of linear programming to product-mix
planning in a textile mill and to scheduling problems in a transport undertaking are discussed.
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