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Steel bars of length 11 meters arrive at a company from its supplier. The bars must be cut into smaller lengths to meet weekly demand and minimize wastage. For each bar the company must decide:
(i) Whether to cut it into two 5 metre lengths; or
(ii) Whether to cut it into one 2 metre length, one 3 metre length and one 5 metre length.
In the next week the company requires 105 bars that are 2 metres long, 153 bars that are 3 metres long and 207 bars that are 5 metres long.
(a) Model the problem as a linear programming problem.
(b) Solve the problem by graphical method
Finance is about Gunns Ltd, a company in dealing with forestry products in Australia. The company has also been listed in Australian Stock Exchange. As many companies producing forestry products, even Gunns Ltd is facing various problems. Due to the ..
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