Title: Operational Research Techniques For Revenue Management
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Title: |
Operational Research Techniques For Revenue Management |
Author Name: |
Kashyap M. Gupta, Kavita C. Griglani |
Abstract: |
Linear Programming (LP) is the mathematical technique for best allocation of scarcity of resources, such as labour, material, machine, capital, energy and so on, to manage revenue among several regular activities, such as items to produce, services to produce such items, jobs, latest equipments, projects, and so on, on the basis of a given situation of optimality. For the developments and application of specific operational research techniques to capture high revenue among several options of action available, which will include numerical values, linear programming as a tool of operations research which may be used where there is a need to formulate a mathematical model to represent the problem. This paper is an insight into how LP can be made use of in the production industry too, where the demand has been so much in India. A typicaloptimisation case has been tried to solve and obtain an optimal solution for revenue management in anPackage Drinking Water Production Industry. |
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