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Also the solution step by step by using excel solver. 1. Supplier Selection Problem A manufacturer of baby cereals is test marketing a new product
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1. Supplier Selection Problem A manufacturer of baby cereals is test marketing a new product next month and requires 20,000 boxes made to specification. The firm plans to purchase these from a number of small paper processors with whom it has dealt in the past and has requested each of these suppliers to submit a bid. Six suppliers have responded; each has specified the maximum order deliverable by the beginning of next month, and, to guarantee themselves some profit in the event that less than a break-even quantity is ordered, each has specified a setup charge. Bids are shown as below: Formulate a model to determine the order that should be placed with each supplierStep by Step Solution
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