Dynamic programming, Managerial Accounting

Assignment Help:

Dynamic programming

It is an extension which finds solutions to problems involving a number of decisions which have to be made sequentially. For example, the amount of a product to be made next month may depend on the amount sold this month and so on.

Thus dynamic programming is a quantitative technique which divides a given problem into stages (or sub-problems which are interrelated). Here we attempt to find a combination of decisions which will maximize overall effectiveness.

Usually, we work backwards from the natural end of the problem until the initial problem is finally solved (as in the decision trees).

The decision made at each stage influences the next stage. This method is also termed as recursive approach.

Dynamic programming applications:

1. Manufacture and distribution troubles.
2. Organizing inventory control.
3. Resource allowance.
4. Substitution and maintenance troubles.


Related Discussions:- Dynamic programming

First cut analysis of costs , First Cut Analysis of Costs The allocati...

First Cut Analysis of Costs The allocation of costs and assets will produce a value chain that illustrates graphically the distribution of a firm's costs. It can prove reveali

Working capital management, stanley shoe company established a line credit ...

stanley shoe company established a line credit with a local bank. the maximum amount that can be borrowed under the terms of the agreement is $100000 at an annual rate of 12%. a co

Explain phases of life cycle of a product, Q. Explain Phases of life cycle ...

Q. Explain Phases of life cycle of a product? Every product move through a life cycle having five phases as shown in figure and they are 1) Pricing during introduction 2)

Determine the scope and areas of cost reduction, Determine the Scope and ar...

Determine the Scope and areas of cost reduction Scope and areas of cost reduction the scope of cost reduction is so wide that it is not practicable to develop fully the areas i

Sales of cool-man air conditioners, Sales of Cool-Man air conditioners have...

Sales of Cool-Man air conditioners have increase steadily during the past five years: Year    Sales 1        450 2        495 3        518 4        563 5        584 6          ?

What are the stages in the performance budgeting, Stages in the performance...

Stages in the performance budgeting The stages in the performance budgeting is enumerated as follows: 1) Establishment of goals objectives and policies: data collection revi

Relevant Cost, Outline Five characteristics of relevant cost

Outline Five characteristics of relevant cost

Transportation problem-solution, Transportation Problem-Solution Soluti...

Transportation Problem-Solution Solution of the Transportation Problem: The fundamental steps of the transportation method are: Step 1:       Determine a preliminary b

Define the modes of hybrid instrument, Define the modes of Hybrid Instrumen...

Define the modes of Hybrid Instrument? 1. What are a variety of investment risks. Describe them. 2. Define the modes of Hybrid Instruments and clarify their features.

Budget, advantage and disadvantage of incremental budget

advantage and disadvantage of incremental budget

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd