Answered: Raw Material Requirement Amount For…

Raw Material Requirement Amount For Unit Product Сарacity Raw Materials P1 P2 P3 H1 2 3 5 4000 H2 4 2 7 6000 Minimum 200 200 150 Demand Profit Per Unit 30 20 50 Product (Pb)

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

Problem 33P: Assume the demand for a companys drug Wozac during the current year is 50,000, and assume demand...

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Concept explainers

Optimization Models

Optimization models are mathematical models that help organizations determine the best way to allocate scarce resources to achieve specific objectives. These models can be used to solve a wide variety of problems, from finding the most efficient route for a delivery truck to determining the optimal mix of products to stock in a store.

Question

An enterprise produces P1, P2 and P3 products using H1 and H2 raw materials. Production data are presented in the table below.

The labor time per unit of P1 product is twice that of P2 and three times that of P3. The entire workforce of the production facility is enough to produce 1500 units of P1 product. The market requirement for products is in the order of 3: 2: 5. Establish the Linear programming (DP) model that will maximize the profits of the business and determine the best production quantities?

Raw Material
Requirement Amount For Unit Product
Сарacity
Raw Materials
P1
P2
P3
H1
2.
5
4000
H2
4
2
7
6000
Minimum
200
200
150
Demand
Profit Per Unit
30
20
50
Product (Pb)

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