The Application of Linear Programming in Profit Maximization
Introduction
The Application of Linear Programming in Profit Maximization .The aim of every organization, company or firm is to make profit as that is what guarantees its continuous existence and productivity. Overtime, issues have been raised about the closure or liquidation of organizations, these chief amongst others may be as a result of lack of effective and sustainable profit maximization.
It is also a mathematical technique used in Operation Research (OR) or Management Sciences to solve specific types of problems such as allocation, transportation and assignment problems that permits a choice or choices between alternative courses of action (Yahya, 2004). Linear programming is a term that covers a whole range of mathematical techniques that is aimed at optimizing performance in terms of combinations of resources (Lucey, 1996). Linear programming (LP) can be defined as a mathematical technique for determining the best allocation of a firm’s limited resources to achieve optimum goal.
| Project Name | :The Application of Linear Programming in Profit Maximization |
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