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

Service process design, the main factors that influence the service process...

the main factors that influence the service process design.

Explain low quality leader-member exchange, 1) Discuss two factors that cou...

1) Discuss two factors that could affect what leadership style is most appropriate in a given situation. 2) Give an example of a manager who successfully or unsuccessful balanced c

Explain the objectives of work study for any management, Explain the object...

Explain the objectives of work study for any management. The objectives of work study for any management are:- a) Enhanced working processes and standard procedures. b) L

Explain what is the bonds'' coupon rate, Metal Fabricators just issued $1,0...

Metal Fabricators just issued $1,000 par 20-year bonds. The bonds sold for $758.18 and pay interest semi-annually. Investors require a rate of 9% on the bonds. What is the bonds' c

Motivation, w What steps can an organisation take to increase the motivati...

w What steps can an organisation take to increase the motivational force for high levels of performance?

Determine the formula of the economic order quantity, Determine the formula...

Determine the formula of the Economic Order Quantity. The formula for Economic Order Quantity (EOQ): EOQ = √((2x C O x D)/(C H ) Here D = Annual demand (units)

Explain disadvantages of marketing a global product, Many firms try to mark...

Many firms try to market the same product as is in many different markets. The product is essentially the same, the only differences may be in packaging and messaging. What are

Performance measurement and effectiveness of operations, Question: A ba...

Question: A bank has a section of its business which has two functions:- 1. answering credit control queries from customers both by telephone and in writing; 2. invest

Explain strategy of wal-mart in china, Assess the strategy of Wal-Mart in C...

Assess the strategy of Wal-Mart in China where the company has recognized unions in all 62 stores, to its strategy in the U.S., which is to combat any type of union representation.

Explain when a firm is able to move to an assemble, When a firm is able to ...

When a firm is able to move to an assemble- To- Order capability from a make -To- Stock approach, there can be a substantial reduction in the number of things that must be tracked

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