Classic Construction Company specializes in constructing buildings with a period-correct architectural style. Three of their current projects, one in Dallas, one in St. Louis, and one in Atlanta, all require a particular reddish “scratch-faced brick,” which can only be
Critical Path Method
The critical path is the longest succession of tasks that has to be successfully completed to conclude a project entirely. The tasks involved in the sequence are called critical activities, as any task getting delayed will result in the whole project getting delayed. To determine the time duration of a project, the critical path has to be identified. The critical path method or CPM is used by project managers to evaluate the least amount of time required to finish each task with the least amount of delay.
Cost Analysis
The entire idea of cost of production or definition of production cost is applied corresponding or we can say that it is related to investment or money cost. Money cost or investment refers to any money expenditure which the firm or supplier or producer undertakes in purchasing or hiring factor of production or factor services.
Inventory Management
Inventory management is the process or system of handling all the goods that an organization owns. In simpler terms, inventory management deals with how a company orders, stores, and uses its goods.
Project Management
Project Management is all about management and optimum utilization of the resources in the best possible manner to develop the software as per the requirement of the client. Here the Project refers to the development of software to meet the end objective of the client by providing the required product or service within a specified Period of time and ensuring high quality. This can be done by managing all the available resources. In short, it can be defined as an application of knowledge, skills, tools, and techniques to meet the objective of the Project. It is the duty of a Project Manager to achieve the objective of the Project as per the specifications given by the client.
- Classic Construction Company specializes in constructing buildings with a period-correct architectural style. Three of their current projects, one in Dallas, one in St. Louis, and one in Atlanta, all require a particular reddish “scratch-faced brick,” which can only be purchased from two suppliers, one based in Newkirk, Ohio and one based in Tulsa, Oklahoma. The unit purchase costs and the availability of bricks at the two locations are given in the table below:
|
Unit Costs (per brick) |
|
Available Supply |
|
Newkirk |
$0.57 |
95,000 (bricks) |
|
Tulsa |
$0.64 |
78,000 (bricks) |
The quantities (“demand”) needed by Classic Construction are given in the table below.
|
Dallas |
St. Louis |
Atlanta |
|
57000 |
44,000 |
68000 |
Suppose that shipping costs are assessed per truck. Each truck can carry up to 10,000 bricks. However, if you send a truck with only 5000 bricks from Newkirk to Atlanta, Classic Construction still pays $4000 for the half-loaded truck. The shipping costs per truck and route are given below:
|
Shipping costs (per Truck) |
|
|
|
|
|
Dallas |
St. Louis |
Atlanta |
|
Newkirk |
$3000 |
$2500 |
$4000 |
|
Tulsa |
$1000 |
$1500 |
$2500 |
- Formulate an Integer Linear Program (ILP) that meets the construction needs of Classic Construction and minimizes the cost of purchasing and shipping.
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