Explain what is the optimal solution, Operation Management

Assignment Help:

Kentwood Electronics manufactures three components for stereo systems: CD players, tape decks, and stereo tuners. The wholesale price and manufacturing cost of each item are: Component Wholesale Price Manufacturing Cost CD Player $150 $75Tape Deck $85 $35Stereo Tuner $70 $30Each CD player produced requires three hours of assembly; each tape deck requires two hours of assembly; and each tuner requires one hour of assembly. However, the company manufactures these products only in batches of 150 - partial batches are not allowed. The marketing department believes that it can sell no more than 150,000 CD Players, 100,000 tape decks, and 90,000 stereo tuners. It expects a demand for at least 50,000 units of each item and wants to be able to meet this demand. If Kentwood has 400,000 hours of assembly time available, how many batches of CD players, tape decks, and stereo tuners should it produce to maximize profits while meeting the minimum demand figures supplied by marketing? A. Formulate an ILP model for this problem. (Hint: Let your decision variables represent the number of batches of each item to produce.)B. Create a spreadsheet model for this problem and solve it. C. What is the optimal solution? I have quite a bit of this done, but I don't see where I can put an attachment up. Please let me know if you can help.


Related Discussions:- Explain what is the optimal solution

Explain avoiding a risk and accepting a risk, Differentiate between avoidin...

Differentiate between avoiding a risk and accepting a risk. Indicate the implications to your project that each might have.

Tobacco Auction Floor, How best can you increase efficiency of a tobacco au...

How best can you increase efficiency of a tobacco auction floor

Explain employees effectively execute the strategy, Select a company that y...

Select a company that you believe uses its employees to achieve a competitive advantage. Discuss how the employees effectively execute the strategy and how the company can sustain

How to compute capacity utilization rate last of a month, 1. A manufacturin...

1. A manufacturing shop is designed to operate most efficiently at an output of 550 units per day. In the past month the plant produced 490 units. What was its capacity utilization

Explain workmen compensation act 1923, Explain Workmen Compensation Act 192...

Explain Workmen Compensation Act 1923. Workmen Compensation Act 1923: The significant terms in the Workmen Compensation Act 1923 are as below: a) Dependents: It means - a

Compute the answers for the missing cells in the table, Process Analytics C...

Process Analytics Case let 1 Overview respond to this case let, which is based in a health care setting.. Preparation Read through the following case let. You are an operations man

Explain case studies with ethnographic research, 1. What benefits can be ga...

1. What benefits can be gained from case studies? What dangers, if any, are there in using case studies? In what ways are they useful? Support your answers. 2. Provide some exam

How can be a mapping process done, How can be a mapping process done? M...

How can be a mapping process done? Mapping processes can be awkward, long winded and a complicated process as like getting everyone to agree what the procedure looks like along

Explain how technology can help your suggestions, Come up with 3 businesses...

Come up with 3 businesses that do not need technology to compete, and then demonstrate how technology can help your suggestions be more successful. For example - a hot dog stand. F

Operations management and globlization, Briefly explain operation managemen...

Briefly explain operation management and globalization

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd