Operations Research
In an organisation, replacement problems arise when fixed assets, such as machines, equipment and other tools, need to be replaced due to reduced efficiency, failure or breakdown. Sometimes, replacement takes…
Simulation is a representation of real-life situations. It is a method in which a replica of a real-world process or system is developed over a period of time. The simulated…
Introduction to Project Evaluation and Review Technique (PERT) The program Evaluation and Review Technique (PERT) model considers uncertainty in activity completion time. There are various project analysis methods available that…
We already know that network analysis helps the project manager in estimating the time of completion of the project and represents the logical interrelation among activities. Some of the network…
For large businesses or manufacturing organisations, projects are divided into various stages or milestones. For example, a construction company is given a project of construction of a house. This project…
The transportation problem is an important Linear Programming Problem (LPP). This problem depicts the transportation of goods from a group of sources to a group of destinations. The whole process…
Introduction to Transportation Problem As the need for goods and services increases globally, so does the importance of transportation. Transportation determines the profits of businesses which move goods and services…
Soon after Dantzig presented the linear programming problem, John von Neumann presented the duality theorem for linear optimisation. In mathematical optimisation theory, principle of duality depicts that every optimisation problem…
When George Dantzig originally put forward the simplex method, it was limited only to LP problems having a known feasible solution, commonly called the initial basic feasible solution. When the…
What is Simplex Method Linear Programming? The simplex method is an algorithm used to calculate the optimal solution to an LP problem. It is a systematically performed iterative procedure to…