The Scottville "Mill" produces five different fabrics. Each fabric can be woven on one or more of the mill's 38 looms. The sales department has forecast demand for the next month. The demand data are shown in Table 1.0 below along with data on the selling price per yard, variable cost per yard, and purchase price per yard. The mill operates 24 hours a day and is scheduled for 30 days during the coming month. The Mill has two types of looms: dobbie and regular. The dobbie looms are more versatile and can be used for all five fabrics. The regular looms can produce only three of the fabrics. The Mill has a total of 38 looms: 8 are dobbie and 30 are regular. The rate of production for each fabric on each type of loom is given in Table 1.1. The time to change over from producing one fabric to another is negligible and does not have to be considered. The Scottsville Mill satisfies all demand with either its own fabric or fabric purchased from another mill. Fabrics that cannot be woven at Scottsville the Mill because of limited loom capacity will be purchased from another mill. The purchase price of each fabric is also shown in Table 1.0 Monthly Demand, Selling Price, Variable Cost, and Purchase Price Data for Scottsville Textile Mill Fabrics Table 1.0 Demand Selling price Variable cost Purchase Price (Yards) ($/Yards) ($/Yard) ($/Yaeds) 1 16,500 0.99 0.66 0.8 2 22,000 0.86 0.55 0.7 3 62,000 1.1 0.49 0.6 4 7,500 1.24 0.51 0.7 5 62,000 0.7 0.5 0.7 Table 1.1 Loom Production Rates for the Scottsville Textile Mill Loom Rate (yards/hour) Demand Dobbie Regular 1 4.63 2 4.63 3 5.23 5.23 4 5.23 5.23 5 4.17 4.17 Note Fabrics 1 and 2 can be manufactured only on the dobbie loom Just formulate the case, using Linear Programming ( Decision Variables, Objective function, and constraints
Critical Path Method
The critical path is the longest succession of tasks that has to be successfully completed to conclude a project entirely. The tasks involved in the sequence are called critical activities, as any task getting delayed will result in the whole project getting delayed. To determine the time duration of a project, the critical path has to be identified. The critical path method or CPM is used by project managers to evaluate the least amount of time required to finish each task with the least amount of delay.
Cost Analysis
The entire idea of cost of production or definition of production cost is applied corresponding or we can say that it is related to investment or money cost. Money cost or investment refers to any money expenditure which the firm or supplier or producer undertakes in purchasing or hiring factor of production or factor services.
Inventory Management
Inventory management is the process or system of handling all the goods that an organization owns. In simpler terms, inventory management deals with how a company orders, stores, and uses its goods.
Project Management
Project Management is all about management and optimum utilization of the resources in the best possible manner to develop the software as per the requirement of the client. Here the Project refers to the development of software to meet the end objective of the client by providing the required product or service within a specified Period of time and ensuring high quality. This can be done by managing all the available resources. In short, it can be defined as an application of knowledge, skills, tools, and techniques to meet the objective of the Project. It is the duty of a Project Manager to achieve the objective of the Project as per the specifications given by the client.
The Scottville "Mill" produces five different fabrics. Each fabric can be woven on one or more of the mill's 38 looms. The sales department has
The Mill has two types of looms: dobbie and regular. The dobbie looms are more versatile and can be used for all five fabrics. The regular looms can produce only three of the fabrics. The Mill has a total of
38 looms: 8 are dobbie and 30 are regular. The rate of production for each fabric on each type of loom is given in Table 1.1. The time to change over from producing one fabric to another is negligible and does not have to be considered.
The Scottsville Mill satisfies all demand with either its own fabric or fabric purchased from another mill. Fabrics that cannot be woven at Scottsville the Mill because of limited loom capacity will be purchased from another mill. The purchase price of each fabric is also shown in Table 1.0
| Monthly Demand, Selling Price, Variable Cost, and Purchase Price Data for Scottsville Textile Mill Fabrics |
| Table 1.0 | ||||||||||||
| Demand | Selling price | Variable cost | Purchase Price | |||||||||
| (Yards) | ($/Yards) | ($/Yard) | ($/Yaeds) | |||||||||
| 1 | 16,500 | 0.99 | 0.66 | 0.8 | ||||||||
| 2 | 22,000 | 0.86 | 0.55 | 0.7 | ||||||||
| 3 | 62,000 | 1.1 | 0.49 | 0.6 | ||||||||
| 4 | 7,500 | 1.24 | 0.51 | 0.7 | ||||||||
| 5 | 62,000 | 0.7 | 0.5 | 0.7 |
| Table 1.1 | ||||||
| Loom Production Rates for the Scottsville Textile Mill | ||||||
| Loom Rate (yards/hour) | ||||||
| Demand | Dobbie | Regular | ||||
| 1 | 4.63 | |||||
| 2 | 4.63 | |||||
| 3 | 5.23 | 5.23 | ||||
| 4 | 5.23 | 5.23 | ||||
| 5 | 4.17 | 4.17 | ||||
| Note Fabrics 1 and 2 can be manufactured only on the dobbie loom |
Just formulate the case, using Linear Programming ( Decision Variables, Objective function, and constraints).
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