Strategic allocation of resources using linear programming model with parametric analysis: in MATLAB and Excel Solver
STRATEGIC ALLOCATION OF RESOURCES USING LINEAR PROGRAMMING MODEL WITH PARAMETRIC ANALYSIS
(Sprache: Englisch)
Since the late 1940s, linear programming models have been used for many different purposes. Airline companies apply these models to optimize their use of planes and staff. NASA has been using them for many years to optimize their use of limited resources....
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Since the late 1940s, linear programming models have been used for many different purposes. Airline companies apply these models to optimize their use of planes and staff. NASA has been using them for many years to optimize their use of limited resources. Oil companies use them to optimize their refinery operations. Small and medium-sized businesses use linear programming to solve a huge variety of problems, often involving resource allocation.In my study, a typical product-mix problem in a manufacturing system producing two products (each product consists of two sub-assemblies) is solved for its optimal solution through the use of the latest versions of MATLAB having the command simlp, which is very much like linprog. As analysts, we try to find a good enough solution for the decision maker to make a final decision. Our attempt is to give the mathematical description of the product-mix optimization problem and bring the problem into a form ready to call MATLAB s simlp command. The objective of this study is to find the best product mix that maximizes profit. The graph obtained using MATLAB commands, give the shaded area enclosed by the constraints called the feasible region, which is the set of points satisfying all the constraints. To find the optimal solution we look at the lines of equal profit to find the corner of the feasible region which yield the highest profit. This corner can be found out at the farthest line of equal profit, which still touches the feasible region.
The most critical part is the sensitivity analysis, using Excel Solver, and Parametric Analysis, using computer software, which allows us to study the effect on optimal solution due to discrete and continuous change in parameters of the LP model including to identify bottlenecks. We have examined other options like product outsourcing, one-time cost, cross training of one operator, manufacturing of hypothetical third product on under-utilized machines and optimal sequencing of jobs on
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machines.
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Lese-Probe zu „Strategic allocation of resources using linear programming model with parametric analysis: in MATLAB and Excel Solver “
Textprobe:Chapter 2.2; Decision making in POM:
Norman Gaither & Greg Frazier. Operations Management. Cengage Learning, 2009.
According to authors no other approach helps us understand how operations managers manage than the examination of the decisions in POM, because in large part, operations managers manage decisions about all the activities of production systems.
Of the many functions in business there are three primary functions: operations, marketing, and finance/accounting. POM is nothing but Production and Operations management responsible for the management of an organization s productive resources or its production system, which converts inputs into the organization s products and services. This conversion process is the heart of what is called operations or production. Without operations, no products or services could be produced; without marketing, no products or services could be sold; without finance/accounting, financial failure would surely result. Achievement of the organizational goals of profitability, survival, and growth dynamic business climate requires cooperative teamwork among these primary business functions. In this study, we shall pay particular attention to the decisions that operations managers make and how they make them.
Classifying operations decisions is difficult, but in our experience as operations managers, decisions tended to fall into three general categories:
Strategic decisions: Decisions about products, processes, and facilities. These decisions are of strategic importance and have long-term significance for the organization. It concerns operations strategies and the long-range game plan for the firm. These decisions are so important that typically people from production or operations, personnel, engineering, marketing, and finance get together to study the business opportunities carefully and to arrive at a decision that puts the organization in the best position for achieving its long-term goals. Examples of this
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type of planning decision are:
- Deciding whether to launch a new -product development project,
- Deciding on the design for a production process for a new product,
- Deciding how to allocate scarce materials, utilities, capacity, and personnel among new and existing business opportunities,
- Deciding what new facilities are needed and where to locate them.
Operating decisions: Decisions about planning production to meet demand. These decisions are necessary if the ongoing production of goods and services is to satisfy the demands of the market and provide profits for the company. The principal responsibility of operations is to take the orders for products and services from customers, which the marketing function has generated, and deliver products and services in such a way that there are satisfied customers at reasonable costs. In carryout this responsibility, numerous decisions are made. Examples of this type of decision are:
- Deciding how much finished-goods inventory to carry out for each product,
- Deciding what products and how much of each to include in next month s production schedule,
- Deciding how many temporary employees to hire next week,
- Deciding how much to purchase from each vendor next month. Such decisions are fundamental to the success of the production function and the entire organization.
Control decisions: Decisions about planning and controlling operations. These decisions concern day to day activities of workers, quality of products and services, production and overhead costs and maintenance of equipment. Examples of this type of decision are:
- Deciding what to do about a department s failure to meet the planned labor cost target,
- Developing labor cost standards for a revised product design that is about to go into production,
- Deciding what the new quality control acceptance criteria should be for a product that has had a change in design, Deciding how often to perform preventive maintenance on a key piece of equipment.
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- Deciding whether to launch a new -product development project,
- Deciding on the design for a production process for a new product,
- Deciding how to allocate scarce materials, utilities, capacity, and personnel among new and existing business opportunities,
- Deciding what new facilities are needed and where to locate them.
Operating decisions: Decisions about planning production to meet demand. These decisions are necessary if the ongoing production of goods and services is to satisfy the demands of the market and provide profits for the company. The principal responsibility of operations is to take the orders for products and services from customers, which the marketing function has generated, and deliver products and services in such a way that there are satisfied customers at reasonable costs. In carryout this responsibility, numerous decisions are made. Examples of this type of decision are:
- Deciding how much finished-goods inventory to carry out for each product,
- Deciding what products and how much of each to include in next month s production schedule,
- Deciding how many temporary employees to hire next week,
- Deciding how much to purchase from each vendor next month. Such decisions are fundamental to the success of the production function and the entire organization.
Control decisions: Decisions about planning and controlling operations. These decisions concern day to day activities of workers, quality of products and services, production and overhead costs and maintenance of equipment. Examples of this type of decision are:
- Deciding what to do about a department s failure to meet the planned labor cost target,
- Developing labor cost standards for a revised product design that is about to go into production,
- Deciding what the new quality control acceptance criteria should be for a product that has had a change in design, Deciding how often to perform preventive maintenance on a key piece of equipment.
O
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Autoren-Porträt von Dinesh Gupta
The author Dinesh Gupta is a short service commissioned officer of Indian Air Force and obtained his Bachelor s degree in Mechanical Engineering from MotiLal Nehru National Institute of Technology, Allahabad in 1985. He did his M.Tech degree in Industrial Engineering from Dr. B.R. Ambedkar National Institute of Technology, Jalandhar in 2013. He has wide work experience of over 25 years in maintenance engineering and teaching. Presently, working as an Associate Professor in Department of Mechanical Engineering, Dronacharya College of Engineering, Gurgaon. He has one research paper to his credit published in International Journal.
Bibliographische Angaben
- Autor: Dinesh Gupta
- 2014, Erstauflage, 76 Seiten, 37 Abbildungen, Maße: 15,5 x 22 cm, Kartoniert (TB), Englisch
- Verlag: Anchor Academic Publishing
- ISBN-10: 3954892804
- ISBN-13: 9783954892808
Sprache:
Englisch
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