Answered: ne of your staff members developed the…

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...

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Question

One of your staff members developed the following excel optimal production plan. You must now review this optimal plan and write a memo to the VP of Operations (Mr. Monroe) with recommendations as to how this optimal production plan can be improved to increase the Total Profit. What are three recommendations you have to the VP of operations based on the attached optimal production plan? These three options must be based only on information present in the excel production plan and components of LP modeling [decision variables, objective function (prices and variable cost), and resource constraints].

A
E
1
2
Incline Electronics
Product 1
6.67
Product 2 Product 3
41.25
4
5 Quantity
9.17
$150.00 Total Profit
6 Unit Profit
$90.00
$120.00
$6,925
7
Hours Used Hours Available
105
240
8
Processing Time (hours per unit)
9 Machine 1
2
1
400
10 Machine 2
3
4
6
240
11 Machine 3
4
6
320
320
12 Total Labor
12
12
665
665

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