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

Lysosomes, Lysosomes Lysosomes were first discovered by Christian de Du...

Lysosomes Lysosomes were first discovered by Christian de Duve. Unlike other organelles which were detected by microscbpe, these were first discovered biochemically. Later, ele

Explain what are the advantages and disadvantages, Discuss the advisability...

Discuss the advisability of using modular assemblies in manufacturing. (What are the advantages and disadvantages?) To what extent can these arguments be applied to service product

Explain stage of the lifecycle, What are come strategic initiatives that Si...

What are come strategic initiatives that Sigma could pursue to prolong its growth naming the product lifecycle and how Sigma will need to recognize the stage of the lifecycle?

Concept of a productivity boundary and operating efficiency, 1. Porter (199...

1. Porter (1996) attempts to resolve the issue of Skinner's quandary with trade-offs by introducing the concept of a productivity boundary and operating efficiencies. Explain where

Explain sole responsibility for prioritizing, Customers have the sole respo...

Customers have the sole responsibility for prioritizing their own needs, selecting a contractor to perform their project, and terminating a project that is not working.

Define the relationships among the four functions of manage, Explain the re...

Explain the relationships among the four functions of management? Please dont copy paste from google.

Give expectancy theory claims that motivation is a function, Expectancy the...

Expectancy theory claims that motivation is a function of Answer efforts, performance, and rewards. individual traits and supervisory skills. aptitude, training, and op

What means the problem may be solved with pom, Michael Plumb's job shop has...

Michael Plumb's job shop has four work areas, A, B, C, and D. Distances in feet between centers of the work areas are: A B C D A - 4 9 7 B - - 6 8 C - - - 10 D - - - - means the pr

Find what is the labour productivity per dollar, Klein Karpet cleaned 65 ru...

Klein Karpet cleaned 65 rungs in October, consuming the following resources: Labour: 520 hours at$13 per hour Solvent: 100 gallons at $5 per gallon Machine rental: 20 days at $50 p

Chart display the possible causes of the defective shipments, Boston Electr...

Boston Electric Generators has been getting many complaints from its major customer, Home Station, about the quality of its shipments of home generators. Daniel Shimshak, the plant

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