Selling Price/lb $6.50 Blend Mix Requirements Special At least 40% Colombian, at least 30% mocha Dark At least 60% Brazilian, 5.25 no more than 10% mild Regular No more than 60% mild, 3.75 at least 30% Brazilian
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.
The Mystic Coffee Shop blends coffee on the premises forits customers. It sells three basic blends in one-pound bags:Special, Mountain Dark, and Mill Regular. It uses four dif-ferent types of coffee to produce the blends: Brazilian,mocha, Colombian, and mild. The shop used the followingblend recipe requirements:The cost of Brazilian coffee is $2.00 per pound, the cost ofmocha is $2.75 per pound, the cost of Colombian is $2.90per pound, and the cost of mild is $1.70 per pound. Theshop has 110 pounds of Brazilian coffee, 70 pounds ofmocha, 80 pounds of Colombian, and 150 pounds of mildcoffee available per week. The shop wants to know theamount of each blend it should prepare each week in orderto maximize profit.Formulate and solve a linear programming model forthis problem.
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