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

Author

Listed:
  • Rodica Gherghina

    (The Bucharest University of Economic Studies, Faculty of Finance, Insurance, Banking and Stock Exchange,Finance Department)

  • Ioana Duca

    (Titu Maiorescu University, Faculty of Economic Sciences, Finance, Banking and Business Administration Department)

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.

Suggested Citation

  • Rodica Gherghina & Ioana Duca, 2013. "Using Linear Programming in order to Optimize the Allocation of Resources for Investment," Journal of Knowledge Management, Economics and Information Technology, ScientificPapers.org, vol. 3(1), pages 1-12, February.
    • Handle: RePEc:spp:jkmeit:1354
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    More about this item

    JEL classification:

    • C0 - Mathematical and Quantitative Methods - - General
    • C1 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General
    • C4 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: Special Topics
    • C6 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling

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