Year: 2025
Type: article
Abstract: Street vending is a prominent aspect of the informal economy in many urban areas, providing essential goods and services to local communities while offering a livelihood to countless individuals. This paper explores the application of linear programming (LP) as a strategic tool for profit maximization among street vendors in Market Square, Olorunti Town. Street vending plays a pivotal role in the informal economy, particularly in developing regions, by providing affordable goods and services while offering livelihoods to many individuals. Despite their contributions to local economies, street vendors face significant challenges, including competition, regulatory constraints, and limited financial resources. This study employs linear programming to analyze resource allocation and identify optimal strategies for profit maximization. By addressing the dynamics of profit management, the research aims to provide actionable insights for street vendors to enhance their business sustainability and growth. The results show that LP can assist street vendors make informed decisions regarding pricing, inventory management, and resource allocation, ultimately leading to improved financial outcomes.
Source: Science Research
Authors: Leo Encho, Abraham Okolo, Ayendoh Sama
Language: English
Subfield: Control and Systems Engineering
Field: Engineering
Domain: Physical Sciences
Open Access status: diamond
OpenAlex ID: W4413842485