The management team of a small furniture-manufacturing company is under pressure to increase profitability to get a much-needed loan from the bank to purchase a more modern pattern-cutting machine. One proposed solution is to sell waste wood chips and shavings to a local charcoal manufacturer instead of using them to fuel space heaters for the company’s office and factory areas. Define the company’s problem. Next, reformulate the problem in a variety of creative ways.  Develop at least one potential alternative for your reformulated problems in Part(a) (Don’t concern yourself with feasibility at this )

Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
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The management team of a small furniture-manufacturing company is under pressure to increase profitability to get a much-needed loan from the bank to purchase a more modern pattern-cutting machine. One proposed solution is to sell waste wood chips and shavings to a local charcoal manufacturer instead of using them to fuel space heaters for the company’s office and factory areas.

  • Define the company’s problem. Next, reformulate the problem in a variety of creative ways. 
  • Develop at least one potential alternative for your reformulated problems in Part(a) (Don’t concern yourself with feasibility at this ) 

 

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