Using Linear Programming in order to Optimize the Allocation of Resources for Investment

Rodica Gherghina and Ioana Duca

Journal of Knowledge Management, Economics and Information Technology, 2013, vol. 3, issue 1, 12

Abstract: The authors’ scientific approach highlights the method to allocate resources for investments to modernize two laboratories within a school, using linear programming. The study aims to achieve maximum profit by upgrading the two laboratories. We made recommendations with respect to the optimum solution. However, using optimization conception is only possible if the conditions for achieving the relevant decisions are correctly formulated and the efficiency criterion is known. Using linear programming method recommendations can be developed related to economically optimal decisions regarding especially the investment resource allocation.

JEL-codes: C0 C1 C4 C6 (search for similar items in EconPapers)
Date: 2013
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Persistent link: https://EconPapers.repec.org/RePEc:spp:jkmeit:1354

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