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 benefit-cost and cost-effectiveness, "A Closer Look" Please respond...

"A Closer Look" Please respond to the following: •Compare and contrast benefit-cost, cost-effectiveness, and cost-utility analysis and determine which is the most useful to assess

Explain what types of interpretations might a consumer make, Reflect on the...

Reflect on the GEICO commercials you have seen and those discussed in your textbook. One of the things that these ads do is invite the audience to become involved and make an inter

Introduction of operations strategy, Introduction of Operations Strategy ...

Introduction of Operations Strategy The term strategy, given in the Collins English Dictionary is, 'the art or science of the planning and conduct of a war; generalship; a lon

Explain levels of management by management skills, Explain levels of Manage...

Explain levels of Management by Management Skills. Management Skills needed successful manager, be categorized as given below: Technical skill refers to the pro

Generic operational strategies - operation strategy, Generic Operational St...

Generic Operational Strategies - Operation Strategy Porter (1985) presented five basic generic strategies for business:  1. Cost efficiency - low cost leadership strategy

Discuss the internal factors as means of improving business, 1.Read the fol...

1.Read the following case:  'Mr Soft n Cool Gelato' is an Ice Cream business owned by Alfredo and Guido Corleone. Since they started the business 18 years ago the firm has expan

Change as well generating positive organizational behaviour, One of the con...

One of the constants in organizations is the presence of change. In almost all change scenarios, human behaviour is impacted. However, organizational members often resist change. W

Explain staff development, Staff Development Please respond to the follo...

Staff Development Please respond to the following: Analyze the different development approaches and discuss which approach (or which combination of approaches) would be most

What is business process re-engineering, What is Business process re-engine...

What is Business process re-engineering? Business process re-engineering (BPR): The basic redesign of existing business processes to attain enhancements in critical areas

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