Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
It can be seen from the optimal solution for the foundry problem that two resources, raw material-1 and labor, are exhausted whereas the other two resources, raw material-2 and foundry capacity, remain available. This implies that the availability of raw material-1 and labor are both exerting a restrictive effect on foundry operation and its profitability. Let us suppose, the foundry can buy the raw material-1 in the open market at a cost of Rs.15 per kg, then is it worth buying and increasing its production to make more profit? Similarly, if the foundry can hire extra labor for Rs.15 per day, then is it worth hiring the extra labor?
The above questions can be answered from the (Zj - Cj) values in the final tableau. The (Zj - Cj) value corresponding to variables S1, that is, column 6 is 20. This indicates that the profit can be increased by Rs.20 for a unit increase in the availability of raw material-1. Thus, if one kilogram of raw material-1 costs Rs.15, then by purchasing it and changing the product mix, the foundry can increase its profit by Rs.20 - Rs.15 = Rs.5. Similarly, the (Zj - Cj) value corresponding to the variable SL is 10 and this indicates that for a unit increase in the availability of labor, profit can be increased by Rs.10. Hence, it is worth hiring labor if its cost is less than Rs.10. Similarly, it is worth buying raw material-1 from open market, if its cost is less than Rs.20 per kg.
The information in the final tableau is also useful in studying the effects of the variations in the profit contributions on the product mix.
ppt on decision tree
Reference Books: Definition According to William Katz (1969) a Reference book generally has the following qualities: It is a miscellany of information organised for quick
Decide upon the Objective What is it that you aim to achieve the end of the presentation ? your objective should be crystal clear. Do not stray or move a ways
A paper mill produces two grades of paper viz. , X and Y. Because of raw material restrictions, it cannot produce more than 400 tons of grade X paper and 300 tons of grade Y paper
Davidson construction company is building a luxury lakefront home in batangas coordination of the architech an sub contractors will require a major effort to meet the 44-week (appr
#what is the similarity and differences between transportation and linear programing models?
Ask question #Minimum 200 words accepted#
O.R REPLACES MANAGEMENT BY PERSONALITY
INFORMATION AND OTHER RELATED CONCEPTS - THEIR MEANING AND CHARACTERISTICS: You may often hear or read in newspapers and other popular magazines about "exponential growth of i
INFORMATION RESOURCES: Information resources are of two kinds, namely, Documentary and Non-Documentary Sources. Documentary Sources: A document embodies thought. I
what is post-optimality
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!
whatsapp: +91-977-207-8620
Phone: +91-977-207-8620
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd