Linear programming

Linear programming is a mathematical approach to finding the best outcome, assuming a limited set of resources. It is used in business to maximize profits or minimize costs by sorting through a set of options to find the best outcome. This technique is only usable when all relationships are linear. Examples of the resources that may be applied to a linear programming model are:

  • A constrained amount of funding
  • A constrained amount of labor hours
  • A constrained amount of machine time
  • A constrained amount of materials
  • A constrained amount of operating space
  • A constrained amount of time