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If you were making only one batch, what is the best batch you could make? What is the profit associated with this batch? You will
If you were making only one batch, what is the best batch you could make? What is the profit associated with this batch? You will answer this question by creating a linear optimization model in Excel. Discuss your findings in a text box. If it's possible to walk through your process in Excel in the answer that'd be cool thanks.
Table 1. Raw materials optimization. Rate / Ton (in rupees) Recovery Minimum per Batch (% of RM) Maximum per Batch (% of RM) Maximum per Month (in tons) Tasla 17,000 0.84 0% 50% 800 Rangeen 13,600 0.74 0% 25% 500 Sponge 17,800 0.85 10% 50% 1,000 Local Scrap 20,000 0.94 15% 80% 1,000 Imported Scrap 23,000 0.97 0% 80% 1,500 HC 2,500 0.25 0% 20% 300 Pig Iron 20,400 0.95 5% 10% 500 Price / ton 29,000 Other consumables/ton 2,000 Salary / batch 3,000 Electricity unit cost 4.30 # of working days/month 25 # of hours/day 24 Maximum kg per batch 4,000 RM = raw materials
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Linear Optimization Model The best batch of steel can be optimized by creating a linear optimization model in Excel This model will account for the cost of raw materials the maximum capacity of each r...
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