Find a current example of a linear optimization model used in your industry. Describe the industry's needs, including any unique factors, how the linear optimization model was used, and the problem or challenge it addressed. Would you suggest a different model be used? Why or why not?
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Find a current example of a linear optimization model used in your industry. Describe the industry's needs, including any unique factors, how the linear optimization model was used, and the problem or challenge it addressed. Would you suggest a different model be used? Why or why not?
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- Seas Beginning sells clothing by mail order. An important question is when to strike a customer from the companys mailing list. At present, the company strikes a customer from its mailing list if a customer fails to order from six consecutive catalogs. The company wants to know whether striking a customer from its list after a customer fails to order from four consecutive catalogs results in a higher profit per customer. The following data are available: If a customer placed an order the last time she received a catalog, then there is a 20% chance she will order from the next catalog. If a customer last placed an order one catalog ago, there is a 16% chance she will order from the next catalog she receives. If a customer last placed an order two catalogs ago, there is a 12% chance she will order from the next catalog she receives. If a customer last placed an order three catalogs ago, there is an 8% chance she will order from the next catalog she receives. If a customer last placed an order four catalogs ago, there is a 4% chance she will order from the next catalog she receives. If a customer last placed an order five catalogs ago, there is a 2% chance she will order from the next catalog she receives. It costs 2 to send a catalog, and the average profit per order is 30. Assume a customer has just placed an order. To maximize expected profit per customer, would Seas Beginning make more money canceling such a customer after six nonorders or four nonorders?What type of linear optimization model is used in an healthcare industry. Describe the industry's needs, including any unique factors, how the linear optimization model was used, and the problem or challenge it addressed. Would you suggest a different model be used? Why or why not?Answer the following question briefly. How may one develop viable alternatives in problem solving? How may alternative solutions be evaluated? Why is it important for those who will be involved in implementation to understand and accept the solution to the problem?
- Imagine that JRP Computing Bhd. has saturated the large firm market for its products and competitors are undermining its technological advantage. JRP needs to look to new markets for revenue. The CEO has suggested that it starts selling its software down-market to middle-market companies and at the same time the company enters into the consulting and installation side of the business for this target market. Discuss the risks and opportunities of such a strategy.Which optimization technique would help businesses to maximize their profits the most? Explain your answer.A company is thinking about significantly expanding its production capacity. Determine the variables needed for this expansion . Identify the sources of information needed to estimate the impact of the expansion on profits?
- Describe a practical optimization problem, establish its optimization model, and give the solution ideaAnswer the following questions: 1. What are the general classifications of Optimization? 2. What is the main objective of a facility location? 3. What type of optimization is facility location? Justify your answer. 4. What are the types of Mathematical Models for Facility Location problems?As a young Graduate who has been employed by Kyekyewere Limited who operates four different types of Businesses in four different industries as follows:a) Cash Cowb) Starc) Question Mark / Problem child andd) DogsWith the knowledge skills and competencies that you have acquired as a Graduate who studied Management of Small and Medium Enterprise Advise Management about these Investment Portfolios in the various industry (s). Your advice should cover the followinga) Explain to Management what Cash cow, Star , Question mark and Dogs industries represent.b) Advise Management on which firm(s) demand further investment and why? c) Advise Management on which firm(s) to close down and why?
- From the Research topic below, kindly provide at least three (3) short related research questions. Each research question must contain a dependant and independent variable. "An Analysis of the factors influencing Recruitment, Selection and Retention of Public Sector Workers in Montserrat."ProFood Supply Company This case revolves around the issue of sales strategy. Jon is faced with two alternative sales strategies for trying to make his sales quota. Neither appears to be a good short term solution. Summary ProFood Supply Company, founded in New York in 1960, has grown steadily over the decades to become one of the largest full-service institutional food suppliers in the nation, selling perishable and non-perishable foods and foodservice supplies such as tablecloths, napkins, and tableware. In the past year, ProFood had begun an aggressive push into a new market segment, the hotel/motel restaurant market. Jon Menzes, the ProFood sales representative in Nashville, Tennessee, has been with the company for two years and hopes to move into management someday. His sales manager, Emily Lewis, told him that if he finished the year over 100% of his sales versus quota that he would be put into the pool of candidates considered for a promotion during the next twelve months. To…During the year, Brownout Company experienced the following power outages:Number of Power Outages Per Month Number of Months 0 3 1 2 2 4 3 3 12Each power outage results in out of pocket costs of P400. For P500 per month, the company can lease an auxiliary generator to provide power during outages. If the company leases an auxiliarygenerator next year, the estimated savings (or…
