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Linear Programming and Turnaround Management
Anthony Belon, Entrepreneur, Malaysia, Member
In business speak, as I understand it, Turnaround Management (TM) also involves strategic decision making. As such, I see that “making strategic or optimal decision” is an essence of TM.
In Management Science, Linear Programming (LP) is part of quantitative methods & decision analysis. LP as a decision-making-tool has several applications which include the followings:
(a) Marketing - media selection & marketing research
(b) Financial - portfolio selection & financial planning
(c) Production management - a make-or-buy decision, production scheduling & workforce assignment.
As such, LP has strategic application in business decision(s) (to minimize loss and/or maximize profit) in the context of TM.
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