Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Sanders Fishing Supply manufactures a variety of fishing equipment. For the next four months the demand and capacities for production are as follows: Month

image text in transcribed

Sanders Fishing Supply manufactures a variety of fishing equipment. For the next four months the demand and capacities for production are as follows: Month Month Month Month 1 2 3 4 Demand "units" Type X 3100 2300 2300 5200 Type Y 2500 3000 3000 4000 Production Time availability "hours" 810 860 560 520 Each unit produced of type X requires five minutes of production and Type Y requires seven minutes of production. The cost of production per minutes for type X and Type Y are 450 baizas and 650 baizas respectively. Because of the inflation in the market the production cost increases by 10% every month. The production capacity each month does not meet the demand so, sanders allows inventory to cover the demand for following month and the cost per unit stored for Type X and Y are 550 baisa and 750 baisa respectively. The storage capacity per month is 1500 units. For quality purpose the inventory of Type X should not exceed the storage of type X at any given month: a. Formulate a production scheduling LP model that minimizes the cost of production and storage (The cost should be calculated in OMR) b. Solve the model in Microsoft Excel Solver. c. What is the optimal solution and the value of objective function at the optimal solution?

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_2

Step: 3

blur-text-image_3

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

Quantitative Methods For Business

Authors: David Anderson, Dennis Sweeney, Thomas Williams, Jeffrey Cam

11th Edition

978-0324651812, 324651813, 978-0324651751

More Books

Students also viewed these General Management questions