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

Marginal and absorption costing, How marginal costing would improve the pro...

How marginal costing would improve the problems faced in absorption costing on manipulation of profits.

Define performance budgeting according u.s. bureau of budget, Define perfor...

Define performance budgeting according U.S. bureau of budget U.S. bureau of budget defines performance budget as one which presents purposes and objectives for which funds are

Cash to debt service ratio, Cash to debt service ratio  Cash to debt s...

Cash to debt service ratio  Cash to debt service ratio also known as debt cash flow coverage ratio is an improvement over the interest coverage ratio and is calculated. The

Determine how the airline company has grown, From the subsequent financial ...

From the subsequent financial data describe: a) How the airline company has grown-up b) How the company has been capable to earn grater margins at higher levels of sales

Comparing between real and planned outcomes , Comparing real and planned ou...

Comparing real and planned outcomes and responding to Divergences from Plan The final phases in the process outlined in figure shown below of comparing real and planned outcome

Cost estimation, engineering method of cost estimation

engineering method of cost estimation

Credit investigation, Once the credit information is accumulated the subseq...

Once the credit information is accumulated the subsequent step is to analyze the gathered information and isolate those matters that may need further investigation. The factors whi

How can we draw a break even chart, How can we draw a break even chart ...

How can we draw a break even chart Under this method the variable cost line is drawn first and then fixed cost line is drawn over and parallel to the variable cost line. The fi

Inappropriate standards-implementation breakdown, Inappropriate standards (...

Inappropriate standards (or targets): This is a problem arising from deficiencies in planning. If not enough time and resources are devoted to setting accurate standards in th

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