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

Innova uses 1, Innova uses 1,056 units of the component IMC2 every month to...

Innova uses 1,056 units of the component IMC2 every month to manufacture one of its products. The unit costs incurred to manufacture the component are as follows. Direct material

Accounting concepts, implications of applying accounting concepts wrongly

implications of applying accounting concepts wrongly

Illustration of marginal profit, Illustration of Marginal profit To ill...

Illustration of Marginal profit To illustrate the computations, suppose that the marginal profit or XE in our model is changed from 3 to 3 + δ1, where δ represents either posit

Break even analysis, I need an example on how to solve a single and two pro...

I need an example on how to solve a single and two product bundle

Sales, Ask question #MinimumYears Purchase Costs Running cost discount fact...

Ask question #MinimumYears Purchase Costs Running cost discount factor 8% Running cost Savings PVS 0 -7000 -7000 1 2000 0.926 1852 5556 3704 2 2500 0.857 2142.5 5999 3856.5

#title.cost control and cos reduction., what does it mean by improving mate...

what does it mean by improving materials usage in an organization?

Ilustrate the debt equity ratio, Debt equity ratio Meaning: this rati...

Debt equity ratio Meaning: this ratio establishes a relationship among long term debts and share holders funds. Objective: the objective of computing this ratio is to me

Schedule of non-discretionary data, Schedule of Non-discretionary Data: and...

Schedule of Non-discretionary Data: and tables, in a form that is readable and readily understood.  This worksheet is to be used to identify/capture the various non-discretionar

Bridge loans, Bridge loans are obtainable from the banks and financial inst...

Bridge loans are obtainable from the banks and financial institutions while the source and timing of the funds to be raised is identified along with certainty. While there is a tim

Advantages-limitations-dynamic programming, Advantages and Limitations of D...

Advantages and Limitations of Dynamic Programming Advantages: (1) In certain types of problems such as inventory control management, Chemical Engineering design, dynamic

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