Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Read the following exercises carefully, formulate the model mathematically and solve with GAMS. A factory has the possibility to produce two products. The conditions of
Read the following exercises carefully, formulate the model mathematically and solve with GAMS. A factory has the possibility to produce two products. The conditions of operation and sale are presented in the following tables. Operation Product 1 Product 2 6 11 250 400 0.5 0.75 Adaptation time [h] Cost of adaptation [$] Production time [h/unit] Cost of production [$/unit] Penalty for unmet demand ($/unit] Sale price [$/unit] 9 14 3 3 25 35 Demand Week 1 Week 3 Week 4 Week 2 95 75 60 90 Product 1 Product 2 20 30 45 30 The factory only has the possibility to produce one product per week. At the end of each week the factory is cleaned so that time and cost are always incurred in adapting the machinery to produce the selected product. There can be no production as long as the machinery is adequate. The plant operates 80 hours per week. The beginning product inventory is 0, the ending inventory in the fourth week should be zero. Determine the production and sales program that maximizes net earnings during the four weeks of operation. Read the following exercises carefully, formulate the model mathematically and solve with GAMS. A factory has the possibility to produce two products. The conditions of operation and sale are presented in the following tables. Operation Product 1 Product 2 6 11 250 400 0.5 0.75 Adaptation time [h] Cost of adaptation [$] Production time [h/unit] Cost of production [$/unit] Penalty for unmet demand ($/unit] Sale price [$/unit] 9 14 3 3 25 35 Demand Week 1 Week 3 Week 4 Week 2 95 75 60 90 Product 1 Product 2 20 30 45 30 The factory only has the possibility to produce one product per week. At the end of each week the factory is cleaned so that time and cost are always incurred in adapting the machinery to produce the selected product. There can be no production as long as the machinery is adequate. The plant operates 80 hours per week. The beginning product inventory is 0, the ending inventory in the fourth week should be zero. Determine the production and sales program that maximizes net earnings during the four weeks of operation
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started