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| Author: | Goh, C. H. Cooper, J. C. |
| Title: | Shadow prices in linear programming: a cost behaviour complication (Opportunitätskostenrechnung, Entscheidungsmethode) |
| Journal: | Production and Inventory Management Journal
1996 : JUN, VOL. 37:2, p. 11-14 |
| Index terms: | |
| Freeterms: | LINEARES PROGRAMMIEREN, FERTIGUNGSMANAGEMENT |
| Language: | eng |
| Abstract: | Linear programming (LP) is a widely used technique to model production systems. It helps managers make decisions in areas such as production scheduling, product selection, and capacity planning. Besides giving the optimal solutions, LP provides the 'shadow price or opportunity cost' of a constrained resource. The purpose of this article is to explain how to use shadow prices in making effective managerial decisions for both fixed and variable cost resources. |
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