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# Industrial Management

## Steps of Linear programming

Steps of Linear programming Formulate the linear program. Construct graph, plot the constraint line. Determine the valid side of each constraint line. Identify the feasible solution region. Plot the objective function on the graph. Find the optimum point. Calculate the co-ordinate of the optimum point.

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## What is linear programming?

Linear programming is a technique for the purpose of allocation of limited resources in an optimum manner. It is the technique used in optimum allocation of resource in the organization. Features of linear programming: Objective function:  A function from the problem for maximization of profit and minimization of costs. Constraints: …

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## Difference between CPM vs PERT

Difference between CPM vs PERT CPM PERT CPM is activity oriented PERT is event oriented COM is used when the activity times are deterministic PERT uses a probabilistic times One time estimate Three time estimate – optimistic, most likely and pessimistic CPM directly introduces cost concept analysis PERT indirectly currents …

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## Fulkerson’s Rule – Numbering of events

Fulkerson’s Rule – Numbering of events The initial event which all outgoing arrows with no incoming arrow is numbered ‘a’ Delete all the arrows coming out from node ‘1’ Delete all the arrows going out from these numbered events to create more initial events Continue until the final or terminal …

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## Applications of Network Analysis

Applications of Network Analysis (PERT and CPM): Research and development projects. Equipment maintenance and overhauling. Construction projects. Setting up new industries. Planning and launching of new products. Design of plants, machine and system. Shifting the manufacturing location from one location to another. Control production in large job shops. Market penetration …

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## Objectives of Network Analysis

Objectives of Network Analysis: A powerful coordinating tool for planning, scheduling and controlling of projects. Minimization of total project cost & time. Effective utilization of resource and minimization of effective resource. Minimization of delays and interruption.

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## What is network scheduling?

Network Scheduling is a technique for planning and scheduling large projects in the field of construction, maintenance, fabrication and any other areas. Two basic planning and controlling techniques: Critical Path Method (CPM) Programme Evalution and Review Technique (PERT).

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## Assumptions in Break Even Analysis

Assumptions in Break Even Analysis: Selling prices will remain constant at all sales level. There is a linear relationship between sales volume and cost. The costs are divided into two categories -Fixed cost (direct cost for production) and Variable cost (vary with volume). Production and sales quantities are equal. Only …

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## Define Break Even Point, Break Even Analysis, Fixed cost and Variable cost

Break Even Point: Break Even Point (BEP) is a situation when you do not make a profit and you do not lose money either. Break Even Analysis: Break Even Analysis (BEA) is a useful tool to study the relation between fixed cost, variable cost and revenue. Fixed cost: It is …

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## How to increase Productivity?

Productivity increases – When production is increased without increase of inputs. The same production with decrease of inputs. The rate of increase in output is more compared to rate of increase in input.

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