Ikea Benchmarking

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Linear Programming       Model Formulation Graphical Solution Method Linear Programming Model Simplex method Solution Solving Linear Programming Problems with Excel Dr A Lung  Student exercises Kingston University London.

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Ikea BenchmarkingLinear Programming Model Formulation Graphical Solution Method Linear Programming Model Simplex method Solution Solving Linear Programming Problems with Excel Dr A Lung Student exercises Kingston University London1Linear Programming (LP) A model consisting of linear relationships representing a firms objective and resource constraints LP is a mathematical modeling technique used to determine a level of operational activity in order to achieve an objective, subject to restrictions called constraints Pioneered by George Dantzig in WWII, including Simplex MethodLearning objectives: Identify Objective function and Constraints Identify Feasible region Apply Corner-point solution Describe how to formulate linear models Use Graphical method of LP 2Types of LP3Types of LP (cont.)4Types of LP (cont.)5LP Model Formulation Decision variablesmathematical symbols representing levels of activity of an operation a linear relationship reflecting the objective of an operation most frequent objective of business firms is to maximize profit most frequent objective of individual operational units (such as a production or packaging department) is to minimize cost a linear relationship representing a restriction on decision making, e.g. an operator can work on m/c A or B, but what ever the mix he/she can only work 8 hours a day 6 Objective function Constrain

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