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Article: An introduction to nearly optimal programming an extension of sensitivity analysis in linear programming.
- Article from:
- Education
- Article date:
- December 22, 1993
- Author:
CopyrightCOPYRIGHT 1993 Project Innovation (Alabama). This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Introduction
Linear programming (LP) is one the most significant mathematical tools used in solving problems of practical importance. For example, in a survey of Fortune 500 companies, it was reported that 85% of the firms responding used LP (Winston) 1991). It has been applied to a wide variety of fields and numerous applications can be found in management science textbooks. For instance, one especially effective use of LP cited by Eppen et al. (1987) is an LP model developed for fuel allocation of a major airline during the 1973 fuel crisis. Utilizing the results from this model helped provide a savings of 12% in fuel consumption for the company, while the overall ...