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Exercise
Machine
Time per unit (mins)
Machine capacity
Min /day
Product 1
Product 2
Product 3
M1
2
3
440
M2
4
-
470
M3
5
430
It is required to determine the daily number of units to be manufactured for each product. The profit per unit for product 1, 2 and 3 is Rs. 4, Rs. 3 and Rs. 6 respectively. It is assumed that all the amounts produced are consumed in the market. Formulate the mathematical model for the model.
How do we determine EOQ?
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