Q. Identify the method which is not an LPP technique:
Solution:
ABC method of inventory control involves a system that controls inventory and is used for materials and throughout the distribution management. It is also known as selective inventory control or SIC. It has become an indispensable part of a business and the ABC analysis is widely used for unfinished good, manufactured products, spare parts, components, finished items and assembly items. This method of management divides the items into three categories A, B and C; where A is the most important item and C the least valuable.
Linear Programming Problems (LPP) provide the method of finding such an optimized function along with/or the values which would optimize the required function accordingly. It is one of the most important Operations Research tools. It is widely used as a decision making aid in almost all industries.
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