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 effect on a service delivery system, Why does volatility of demand ...

Why does volatility of demand have a higher effect on a service delivery system than on a manufacturing system?

Find the probability that both service clerks are busy, Discounts Wholesale...

Discounts Wholesale Club has two service desks, one at each entrance of the store. Customers arrive at each service desk at an average of one every six minutes. The service time at

Describe detect the presence of assignable causes, If the time order of pro...

If the time order of production has not been recorded in a set of data from a process is it possible to detect the presence of assignable causes?

Explain strategic decision support, Strategic decision support Alignment...

Strategic decision support Alignment of information technology and management goals in healthcare is essential. This alignment assumes that information technology experts be abl

Explain human resource management process first step, Explain the first ste...

Explain the first step in the Human Resource Management Process. What is the "De-recruitment", and how might it relate to this first step?

Explain how contracting fits into the acquisition program, Describe how you...

Describe how you think contracting fits into the acquisition program. Feel free to use some of your own experiences and examples

Explain employer disciplinary actions, Identify how the issues of due proce...

Identify how the issues of due process and just cause are linked to employer disciplinary actions

Analytic also synthetic methods of manufacturing operations, Analytic and s...

Analytic and synthetic methods of manufacturing operations may be on the final exam. What is the difference between them? Please include an example

Explain actual and forcasted demand level, The following are monthly actual...

The following are monthly actual and forcasted demand level for may through December for units of product manufactured by N. Month Actual demand Forecast demand May 100 102

Organizing process flows, Organizing Process Flows Five types of proc...

Organizing Process Flows Five types of process are distinguished. They are Project Production System Job Shop Production system Batch Production system

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