Determine the appropriate inequality.

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Reference no: EM132264784

Gather the following information for Excel Linear Programming Input. You need to determine: what are some of the limited resources of nike firm may encounter? Make predictions based on news, financials, analysis, etc. Use your best judgement. Recall most resource limitations are based on monetary (financial data, etc.) and/or non-monetary (inventory, etc.) values. Resource values include factors as machinery, manpower, money, etc.

1. Objective Function: This is the goal for your bottom line profit, revenue, etc. To be expressed as the addition of all your resource (Method, Material, Manpower, Money) functions.

2. Constraints: Select three constraints to input into the model. The constraints should reflect real potential obstacles for your firm. For example, limited personnel, inventory issues, machinery capacity issues, etc.)

a. RHS: Represents resources available to the form (can be resource time, machine time, assembly time, etc.) Note: Vector on Right Hand Side (RHS) associated with the constrains of a Linear Programming model. This is what your group will define as the real world constraints.

i. Hint: Recall the units of the RHS constrains should also be left blank. As solver, determines the required units.

b. LHS: Populate all available resourced which are set to specific limitations. For example, Starbucks has approximately 8,575 stores and approximately 300,000 employees.

i. Represents the Total amount of time or resources available. Usually given and/or input into the model or problem.

ii. Refer to Flair Furniture excel examples posted via Blackboard and detailed in your textbook for support and demonstrations.

3. Determine the appropriate inequality. For example, determine whether you will utilize <= or >= in your linear program model.

4. Run Solver and the respective Solver reports: Run the Solver analysis via Excel. Make appropriate conclusions about the data. You can comment on impact of future projections on the basis of monetary or non-monetary expressions. Comment on binding constraints, bounded solutions, etc. If you do not know what this is, read your book and lecture notes.

Reference no: EM132264784

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