Discuss several advantages of linear programming and clearly

Solution

Advantages of Linear Programming

1. Scientific Approach to Problem Solving.

Linear Programming is the application of scientific approach to problem solving. Hence it results in a better and true picture of the problems which can then be minutely analyzed and solutions ascertained.

2. Evaluation of All Possible Alternatives.

Most of the problems faced by the present organizations are highly complicated - which can not be solved by the traditional approach to decision making. The technique of Linear Programming ensures that will genarate possible solutions out of which the optimal solution can be selected.

3. Helps in Re-Evaluation.

Linear Programming can also be used in reevaluation of a basic plan for changing conditions. Should the conditions change while the plan is carried out only partially, these conditions can be accurately determined with the help of Linear Programming so as to adjust the remainder of the plan for best results.

4. Quality of Decision.

Linear Programming provides practical and better quality of decisions that reflect very precisely the limitations of the system i.e., the various restrictions under which the system must operate for the solution to be optimal. If it becomes necessary to deviate from the optimal path, Linear Programming can quite easily evaluate the associated costs or penalty.

5. Focus on Grey-Areas.

Highlighting of grey areas or bottlenecks in the production process is the most significant merit of Linear Programming. During the periods of bottlenecks, imbalances occur in the production department. Some of the machines remain idle for long periods of time, while the other machines are unable to offer the demand even at the peak performance level. A significant advantage of linear programming is highlighting of such bottle necks.

6. Flexibility.

Linear Programming is an adaptive & flexible mathematical technique and hence can be utilized in analyzing a variety of multi-dimensional problems quite successfully.

7. Creation of Information Base.

By evaluating the various possible alternatives in the light of the prevailing constraints, Linear Programming models provide an important database from which the allocation of precious resources can be done rationally and judiciously.

8. Maximum optimal Utilization of Factors of Production.

Linear Programming helps in optimal utilization of various existing factors of production such as installed capacity, labour and raw materials etc.