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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.
a. Explain the method of "Taylor's Scientific Management". List the elements of Taylor's Scientific Management. b. List the necessary managerial functions of a Manager. Explain.
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