Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

develop a quantitative model (linear programming) using the data, analyse and interpret the model using excel solver and report your findings. we need to identify

develop a quantitative model (linear programming) using the data, analyse and interpret the model using excel solver and report your findings. we need to identify an objective function clearly stating the purpose of the quantitative model. we should be able to define the variables under consideration for the quantitative model development. Further, we should be to collect relevant information from stakeholders for developing the constraints. The report should outline the stakeholder's analysis for data collection and developing constraints. The developed model should be analysed using the Excel solver function to generate an optimal solution. The report should outline the step-by-step procedure of the solver function. The final output should be presented to management for decision analysis. You are required to set up the MS Excel dashboard to assist any user to make decisions. we are to provide quantitative model for managerial decision making with optimal outcomes for the organisation by using Excel solver tools and validate the importance of specific analysis and interpretation for the management decisions

The managerial decisions you make in relation to this assessment must be made with regards to any one of the following 6. Multiperiod Cashflow Problems 
Let Xij(i=1,2j=1,2,...5)be the optimized number of the shoes send by distribution center Ai to store Bj:
Store Distrubition center Melbourne Sydney Sunshine Coast Adelaide Perth Capacity
Melbourne 0.4 1 1.3 1 1.5 6000
Sydney 0.8 0.5 0.6 1.2 1.4 3500
order number 3000 4000 500 600 650
Objective function
min=0.4*x(1,1)+1*x(1,2)+1.3*x(1,3)+1*x(1,4)+1.5*x(1,5)+0.8*x(2,1)+0.5*x(2,2)+0.6*x(2,3)+1.2*x(2,4)+1.4*x(2,5)
Constrains
C1 X(1,1)+X(1,2)+X(1,3)+X(1,4)+X(1,5)<=6000
C2 X(2,1)+X(2,2)+X(2,3)+X(2,4)+X(2,5)<=3500
C3 X(1,1)+X(2,1)>=3000
C4 X(1,2)+X(2,2)>=4000
C5 X(1,3)+X(2,3)>=500
C6 X(1,4)+X(2,4)>=600
C7 X(1,5)+X(2,5)>=650
C8 Xij>=0
Objective function
Min z= 5575
Decision variable X(1,1) X(1,2) X(1,3) X(1,4) X(1,5) X(2,1) X(2,2) X(2,3) X(2,4) X(2,5)
Coefficients 0.4 1 1.3 1 1.5 0.8 0.5 0.6 1.2 1.4
Value 3000 1000 0 600 650 0 3000 500 0 0
Subject to LHS RHS
C1 1 1 1 1 1 0 0 0 0 0 5250 <= 6000
C2 0 0 0 0 0 1 1 1 1 1 3500 <= 3500
C3 1 0 0 0 0 1 0 0 0 0 3000 >= 3000
C4 0 1 0 0 0 0 1 0 0 0 4000 >= 4000
C5 0 0 1 0 0 0 0 1 0 0 500 >= 500
C6 0 0 0 1 0 0 0 0 1 0 600 >= 600
C7 0 0 0 0 1 0 0 0 0 1 650 >= 650

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Retailing Management

Authors: Michael Levy, Barton Weitz, Dhruv Grewal

9th Edition

0077512375, 9780077512378

More Books

Students also viewed these General Management questions

Question

1. What is the meaning of the information we are collecting?

Answered: 1 week ago

Question

3. How much information do we need to collect?

Answered: 1 week ago

Question

2. What types of information are we collecting?

Answered: 1 week ago