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The Application of a Product Mix Linear Programming Model in Corporate Policy Making

Author

Listed:
  • Jack Byrd, Jr.

    (West Virginia University)

  • L. Ted Moore

    (West Virginia University)

Abstract

This paper reports a real-life application of linear programming to corporate policy making. The model used in the study was designed to analyze the company's marketing and production policies. The model structure is unique, incorporating features of product mix, sequencing and blending models. The model's structure is described as well as typical results it produced. The recommendations for corporate actions arising from the model are also explained. Recommendations were made to alter the existing corporate policies on brand proliferation and limited inventory levels. The product line has been reduced as a result of the study, and a policy decision to expand the inventory has been made. The process of implementation is sketched to provide a feeling for the difficulties involved in corporate policy making.

Suggested Citation

  • Jack Byrd, Jr. & L. Ted Moore, 1978. "The Application of a Product Mix Linear Programming Model in Corporate Policy Making," Management Science, INFORMS, vol. 24(13), pages 1342-1350, September.
    • Handle: RePEc:inm:ormnsc:v:24:y:1978:i:13:p:1342-1350
    DOI: 10.1287/mnsc.24.13.1342
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    Cited by:

    1. Sulaimon Olanrewaju Adebiyi & Bilqis Bolanle Amole & Ismail Oladimeji Soile, 2014. "Linear Optimization Techniques for Product-Mix of Paints Production in Nigeria," Acta Universitatis Danubius. OEconomica, Danubius University of Galati, issue 1(1), pages 181-190, February.
    2. Lea, Bih-Ru & Fredendall, Lawrence D., 2002. "The impact of management accounting, product structure, product mix algorithm, and planning horizon on manufacturing performance," International Journal of Production Economics, Elsevier, vol. 79(3), pages 279-299, October.
    3. Florian Kellner & Bernhard Lienland & Sebastian Utz, 2021. "A multi‐criteria decision‐making approach for assembling optimal powertrain technology portfolios in low GHG emission environments," Journal of Industrial Ecology, Yale University, vol. 25(6), pages 1412-1429, December.

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