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Essentials of Linear Programming for Managers: From System of Inequalities to Software Implementation
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Author(s): Hossein Arsham (Johns Hopkins University, USA), M. Bardossy (University of Baltimore, USA)and D. K. Sharma (University of Baltimore, USA)
Copyright: 2014
Pages: 32
Source title:
Management Science, Logistics, and Operations Research
Source Author(s)/Editor(s): John Wang (Montclair State University, USA)
DOI: 10.4018/978-1-4666-4506-6.ch007
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Abstract
This chapter provides a critical overview of Linear Programming (LP) from a manager's perspective. The main objective is to provide managers with the essentials of LP as well as cautionary notes and defenses on common modeling issues and software limitations. The authors illustrate the findings by solving a simple LP directly on the original decision variables and constraints space without adding new variables or translating the model to fit a specific solution algorithm. The aims are the unification of diverse set of topics in their natural states in a manner that are easy to understand and providing useful information to the managers. The advances in computing software have brought LP tools to the desktop for a variety of applications to support managerial decision-making. However, it is already recognized that current LP tools, in ample circumstances, do not answer the managerial questions satisfactorily. For instance, there is a costly difference between the mathematical and managerial interpretations of sensitivity analysis. LP software packages provide one-change-at-a-time sensitivity results; the authors develop the largest sensitivity region, which allows for simultaneous dependent and/or independent changes, based on the optimal solution. The procedures are illustrated by numerical examples including LP in standard-form and LP in non standard-form.
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