Please write a response to the below discussion post. The question was to Discus
ID: 370387 • Letter: P
Question
Please write a response to the below discussion post. The question was to Discuss how you would use linear programming in a future position in management.
As a manager the goal is to accomplish the goals and objectives of the company with the least amount of resources possible. In doing this managers must be aware of what needs to be accomplished and what measures are at the disposal of the manager and the company to use to accomplish the desired goals and objectives. The goal of managers is to be able to accomplish the goals while saving the company and maximizing the profits as much as possible. This all should be done within the parameters that have been established by the company to do so. Maximizing profits can be very difficult to do when the parameters set are not flexible. Linear programming can be used by managers to use the available resources to maximize profits as much as possible.
Explanation / Answer
Achieving the strategic goals of an organization is not achievable with least amount of resources but with optimum amount of resources, keeping an eye on the budget. Because cheap resources and low expense may not yield better result. Hence in long run the profit earned may be lesser than expected. A high initial investment may give you better resources to enable gaining high profit utilizing economies of scale in the long run. Linear programming shows the optimum route possible- be it in logistics, be it cost optimization, be it resource utilization so that the profit is maximum, and losses is minimum. These contribute to the strategic goal of the organization (both short term and long term). Although short term benefits may not be that high but when it comes to business, you should think of sustainability irrespective of your position in the organization. Parameters are not limited by the company, it is limited by the availability of resources. Only thing limited for the company is investment. Although linear programming has
While this requirement may seem overly restrictive, many real-world business problems can be formulated in this manner. That provides a powerful and robust analytical methodology for supporting fact-based decision making. It provides the platform to select which supplier will produce the best product utilizing the available resources and deliver them with minimum lead time to meet customer expectations. It assists in product deployment, manpower planning, logistic routing, manufacturing, allocation etc.