Linear Programming with Transportation in Operations Management LEARNING OBJECTIVES After studying this technical supplement, you should be able to: 1. Explain the importance of optimization to operations management 2. Demonstrate how to develop linear programming models 3. Show how linear programming models can be solved using EXCEL 4. Demonstrate 0-1, transportation, and assignment models LINEAR PROGRAMMING MODELS IN OPERATIONS MANAGEMENT Linear programming (LP) is
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Case Study: RED BRAND CANNERS Vice President of Operations Mr. Michell Gorden Controller Mr. William Copper Sale Manager Mr. Charles Myers Production Manager Mr. Dan Tucker Purpose: Decide the amount of tomato products to pack at this season. Tomato Products Whole Tomato Tomato Juice Tomato Paste Information: 1. Amount of Tomato: 3,000,000 pounds to be delivered. Tomato quality: 20% (grade A) × 3,000,000 = 600,000 pounds 80% (grade B) × 3,000,000 = 2,400,000 pounds (provided by production
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1. Marginal utility: is the extra satisfaction from the consumption of 1 more unit of some good or service. 2. To maximize satisfaction, the consumer should allocate his or her money income so that the last dollar spent on each product yields the same amount of extra (marginal) utility. We call this the utility-maximizing rule. When the consumer has “balanced his margins” using this rule, he has achieved consumer equilibrium and has no incentive to alter his expenditure pattern. 3. Linear
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At my current workplace there is at least one system error that was apparent in this week’s reading regarding “Systems Thinking”. Seddon (2007) in part one of his six steps series stated that most organizations have managers who believe that their roles as managers is to manage people and budget. He also says that although most managers believe that people are their most important asset, they judge their people based on how they perform their work. Seddon (2007) in part one of his six steps series
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Return-on-Investment Incentive: o Measures how effectively each branch used its invested capital to earn a profit. o Managers paid in direct proportion to their effective use of assets placed at their disposal o Emphasis: to increase the return at any level of investment, high or low3. Limitations on ROI o No incentive paid to managers below 5% before federal taxes o No additional incentive will be paid above %20 o No payments will be made in excess of $50,0004. Calculation on ROI
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Strategy ♦ Hart Venture Capital Chapter 3: Linear Programming: Sensitivity Analysis and Interpretation of Solution ♦ Product Mix ♦ Investment Strategy ♦ Truck Leasing Strategy Chapter 4: Linear Programming Applications in Marketing, Finance and Operations Management ♦ Planning an Advertising Campaign ♦ Phoenix Computer ♦ Textile Mill Scheduling ♦ Workforce Scheduling ♦ Duke Energy Coal Allocation Chapter 6: Distribution and Network Models ♦ Solution Plus ♦ Distribution Systems Design Chapter 7: Integer
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BA 365 INTRODUCTION TO OPERATIONS MANAGEMENT To purchase this tutorial visit here: http://mindsblow.us/question_des/BA365INTRODUCTIONTOOPERATIONSMANAGEMENT/24 contact us at: help@mindblows.us BA 365 INTRODUCTION TO OPERATIONS MANAGEMENT Module Assignments 1 Discussion Forum: Disney World Case Study: Natural Designs Inc. 2 Discussion Forum: Baldridge Case Study: Boutique Hotels 3 Discussion Forum: Vaccine Distribution Assignment Questions Chapter 6 4 Discussion Forum: Weddings Midterm
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1. BBC has an average accounts payable balance of $500,000. Its average daily cost of goods sold is $15,000, and it receives terms of 2/15, net 35, from its suppliers. BBC chooses to forgo the discount. Is the firm managing its accounts payable well? The average number of days it takes for BBC to pay it's vendors is 33.33 days (500000/15000). They are not paying nearly timely enough to receive ia discount, but they are still paying by the last day to pay their invoice which is 35 days. There is
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1. An analysis was done of the Meals on Wheels Center's Purchase Orders for canned green beans to calculate the Economic Order Quantity (EOQ). This was done to predict the optimal balance between order costs and carrying costs. 2. The calculations determined that 1,549 cans should be ordered at a time. There should be 19 orders each year. 3. When ordering at the EOQ of 19 orders, the total ordering costs were $387.30 and total carrying costs were also $387.30. 4. The carrying costs when
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h of goods or money unless admins approve on taking further. The scammer and the victim must be levels 10 or higher. House, business and vehicle scams are not allowed - the result of ignoring these rules can be admin jails and return of all goods, or a ban for severe cases. The punishment for robbery can also result in an admin jail. Rape is not allowed unless both people agree OOCly to do so. Q4 : Metagaming, otherwise known as MG, is when OOC text is used in an IC situation - for example
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