Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

i need the solution asapp Project 2 A company has a total of 3 factories to produce steel and iron. Every month, the company must

i need the solution asapp

Project 2

A company has a total of 3 factories to produce steel and iron. Every month, the company must meet the following demands: 3200 tonnes of steel and 1000 tonnes of Iron. Each factory has a different shipping cost per tonne (/tonne) for each product as shown in the table below:

Factory

Steel

Iron

1

200

500

2

800

400

3

500

1000

The warehouses in Factory 1, Factory 2 and Factory 3 can store 2000 tonnes,1500 tonnes and 2500 tonnes of products, respectively. The company is seeking for a solution to minimise the shipping cost.

  1. Based on the table above, determine the optimal monthly assignment plan for the factory. That is, how many tonnes each factory needs to be shipped to fulfil the demand.
  2. Suppose Factory 3 will not be available during the next few months. Keeping the same demand, is the company able to fulfil the demands? What would be the revised assignment plan to ensure demand is fulfilled?
  3. The cost of raw materials in each factory is shown in the table below. Change the company objective function to minimize all costs and find the optimal assignment plan. Does the new solution change from the base case? If yes, how so?

Factory

Steel raw material cost

Iron raw material cost

1

50

100

2

70

120

3

45

130

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

Rockin Your Business Finances

Authors: Chrstine Odle

1st Edition

0999135104, 9780999135105

More Books

Students also viewed these Finance questions

Question

=+) Explain carefully what the P-value means in this context.

Answered: 1 week ago