Mathematical computer modeling simulation technique. Calculated the best solutions for allocating energy, machines, materials, money, personnel, space, time, as limited resources to achieve maximum profit or minimum cost. Applies only where every relationship is linear. Refer to linear relationship . Accommodate only specific cost functions. ‘Mixed integer modeling’ is used for problems involving more complex cost functions. Russian economist Leonid Kantorovich (1912-86) and US economist C. Koopmans (1910-86), developed this method based on the work of Russian mathematician Andrei Nikolaevich Kolmogorov (1903-87).
Black’s Law Online Dictionary
