Develop a linear programming model for determining the optimum production schedule and inventory levels of each calculator so that total cost is minimized.

The Acme Calculator Company is trying
to schedule production of two of their most popular electronic
calculators for the next three months (June, July & August).
The calculators are called the Scientist and the Businessman.
Information about both calculators is given below:

Month

Demand For
Scientist
(units)

Demand For
Businessman
(units)

Total Assembly
Time Available
(minutes)

Total Electronic Chips
Available
(units)

June

245

425

1,900

3,250

July

400

700

3,100

4,500

August

590

480

2,700

4,800

Calculator

Beginning Inventory
(end of May)
(units)

Electronic Chips Required
(#/calculator)

Assembly Time Required
(minutes/unit)

Production Cost
($/unit)

End Of Month Inventory
Cost
($/unit)

Scientist

30

4

3

$11

$1.50

Businessman

50

5

2

$15

$0.80

The company wishes to end production in August with 250 of the
Scientist calculators and 90 of the Businessman calculators in
inventory for the September to November production cycle.
Develop a linear programming model for determining the optimum
production schedule and inventory levels of each calculator so that
total cost is minimized. – (25 Points)
What are the optimum decisions? What is the minimum total cost
associated with these decisions? – (10 Points)


 

PLACE THIS ORDER OR A SIMILAR ORDER WITH LITE ESSAYS TODAY AND GET AN AMAZING DISCOUNT

The post Develop a linear programming model for determining the optimum production schedule and inventory levels of each calculator so that total cost is minimized. appeared first on Cheapest Academic Custom Papers.

I absolutely LOVE this essay writing service. This is perhaps the tenth time I am ordering from them, and they have not failed me not once! My research paper was of excellent quality, as always. You can order essays, discussion, article critique, coursework, projects, case study, term papers, research papers, reaction paper, movie review, research proposal, capstone project, speech/presentation, book report/review, annotated bibliography, and more.

Ask a Question. Get an Answer ASAP!

PLACE YOUR ORDER