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The Ace Manufacturing Company produces two lines of its product, the super and the regular. Resource requirements for production are given in the table. There are 1,600 hours of assembly worker hours available per week, 700 hours of paint time, and 1200 hours of inspection time. Regular customers will demand at least 150 units of the regular line and at least 90 of the super line. Profit Assembly Paint Inspection Product Line Contribution time (hr.) time (hr.) time (hr.) Regular 50 1.2 .8 1.5 Super 75 1.6 .5 .7 a) Formulate an LP model which the Ace Company could use to determine the optimal product mix on a weekly basis. Use two decision variables (units of regular and units of super). Suggest any feasible solution and explain what "feasible solution" means. b) Find the optimal solution by using the graphical solution technique. What is the value of the objective function? What are the values of all variables? c) By how many units can the demand for the super product increase before the optimal intersection point changes? Explain. For the regular product? d) How much would it be worth to the Ace Company if it could obtain an additional hour of paint time? Of assembly time? Of inspection time? Explain fully. Show all calculations. e) Find the upper and lower bounds for assembly time by identifying the corner points on either end of the line and substituting these points into the assembly equation. What do these bounds mean? Explain. f) Solve this problem with LINDO or POM and verify that your answers are correct.
Operations Management is about a book review. Title of the book is "Goal". This book has been written by Dr. Eliyahu Goldartt. The book has been appreciated by many as one of those books which offers an insight into the operations and strategic capac..
Operational plan pertaining to a hospitality enterprise is given in detail in the solution. The operational plan is an important plan or preparation which gives guidelines regarding the role and responsibilities of each and every operation at all lev..
Recognise the importance of a strategic approach to the development and deployment of organisational information systems. Demonstrate an understanding of the importance of databases and their integration to the organisation's overall information mana..
An analysis of the holding costs, including the appropriate annual holding cost rate.
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A number of drivers of change have transformed the roles, functions and responsibilities of an operations manager over recent years. These drivers have not only been based on technological innovations but also on the need for organisations to develop..
Compute the Optimal Order quantity of DVD players. Determine the appropriate reorder point.
Evaluate problems in operations and identify approaches to overcoming them. Critically evaluate operating plans and identify areas for improvement. Justify, implement and evaluate changes to operations in line with modern approaches.
Develop a report for Figi Fabricating that will address the question of whether the company should continue to purchase the part from the supplier or begin to produce the part itself.
Prepare a staffing plan showing the change of your unit from medical/surgical staffing to oncology staffing.
Ccompare the effectiveness of different leadership styles in different organizations
Be able to understand the concept of risk, roles and responsibilities for risk management and risk management tools and models.
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