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

Comparing the concept of viewing a firm''s suppliers explain, Provide at le...

Provide at least 3 different factors when comparing the concept of viewing a firm's suppliers as adversaries with viewing them as partners.

Describe broad of directors or business investors, Create an argument for d...

Create an argument for diversification of Starbucks that will be presented to the broad of directors or business investors.

Explain what is the union relations environment, What is the union relation...

What is the union relations environment today and what are the future trends in labour relations?

Line balancing, what do you understand by line balancing what happens if ba...

what do you understand by line balancing what happens if balance does not exist

Define ethical responsibilities and social responsibilities, Explain the di...

Explain the difference between ethical responsibilities and social responsibilities of a manager. Please in you own words.

Centre of gravity method, Hi, I am looking to find any potential benefits o...

Hi, I am looking to find any potential benefits of the centre of gravity locational theory, in addition to this, would like to know of any potential drawbacks that the theory entai

Define what is the probability that you will make money, The owner of Firew...

The owner of Firewood-2-Go is considering buying a hydraulic wood splitter which sells for $60000. He figures it will cost an additional $80 per cord to purchase and split wood wit

Explain key dimensions of the general environment, Compare and contrast the...

Compare and contrast the key dimensions of the general environment, the task environment and the enacted environment of an organization.

Explain medical facility does mris for sports injuries, A medical facility ...

A medical facility does MRIs for sports injuries. Occasionally a test yields inconclusive results and must be repeated. Using the following sample data and n = 195. SAMPLE 1 2 3 4

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