Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA PM Exams › Linear Programming steps
- This topic has 1 reply, 2 voices, and was last updated 2 years ago by John Moffat.
- AuthorPosts
- October 11, 2021 at 9:02 pm #637477
I watched your lecture and this is what I understood please correct me if I am wrong.
Linear Programming is used to deal with multiple limited resources (i.e. Material usage or Labour hours) and in the exam, we’ll be dealing with only two limiting factors in the exam (even though there could be many in real life)?
Step 1 : Define the unknowns in terms of symbols:
We define symbols to all products irrespective of whether they are limiting factor resources or not?Step 2 : Formulate equations for the constraints:
We make equations only for limited resources (such as material usage and Labour hours). Can it happen that we would be given more products in a question but not all of them are limited so we have to make equations of only limited factors resource?Step 3 : Formulate an equation for the objective:
Our objective is to maximize contribution made on limited resources but is it possible that we would have been given profit rather than contribution to see how much we’re gonna make on limited resources?Step 4 : Graph the constraints and the objective:
There will always be two products with the limited resource (i.e. constraints) in Linear Programming because we can only take two products while drawing the graph like Product A in x-axis and Product B in y-axis?Step 5 : Optimum Production Plan:
We need to find how many units are to be made of both products after adjusting for limited resources and calculate the Total Contribution made on those units?October 12, 2021 at 7:26 am #637526You can only be asked to deal with two products in a linear programming question.
You define symbols for the number of units being produced of each of the products. It is not the products that are limited resources.
Step 2. What you write cannot happen.
Step 3. For most questions the objective is to maximise the contribution, but it could be anything.
Step 4. There can only be two products (but you cannot be asked to draw the graph yourself in the exam).
Step 5. Yes.
- AuthorPosts
- You must be logged in to reply to this topic.