KING FAHD UNIVERSITY OF PETROLEUM & MINERALS COLLEGE OF INDUSTRIAL MANAGEMENT DEPARTMENT OF MANAGEMENT & MARKETING EXECUTIVE MASTER OF BUSINESS ADMINISTRATION QUANTITATIVE METHODS FOR MANAGEMENT OM 551 Class Schedule: Wed / or Thurs: 8:00- 11:45 &13:00- 16:30 DR. TAQI N. AL-FARAJ E-MAIL: tagi@kfupm.edu.sa Telephone: 860-2724 Mobile: +966506847529 Introduction Quantitative Methods for Management‚ also known as Management Science‚ is a discipline that attempts to aid managerial
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Research Project Mathematical Programming Based Modeling For Supply Chain Management Control Muhammad Faisal Department of Engineering Management‚ Abasyn University‚ Islamabad‚ Pakistan. Abstract Economic globalization has forced and is still forcing enterprises to develop new global manufacturing and distribution concepts. A growing number of products are produced in multiple plants dispersed around the globe. This paper designs and discusses a mathematical model of international
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are x1 ≥0‚ x2 ≥0 Maximize the profit function: p = 3x1 + 5x2 2. What are the advantages of Linear programming techniques? Ans. Advantages— 1. The linear programming technique helps to make the best possible use of available productive resources (such as time‚ labour‚ machines etc.) 2. It improves the quality of decisions. The individual who makes use of linear programming methods becomes more objective than subjective. 3. It also helps in providing better tools for
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Each product requires 10 hours of processing time on line 1‚ while on line 2‚ product 1 requires 7 hours and product 2 requires 3 hours. The profit for product 1 is $6 per unit‚ and the profit for product 2 is $4 per unit. a. Formulate a linear programming model for this problem. b. Solve this model by using graphical analysis. 6) The Pinewood Furniture Company produces chairs and tables from two resources-labor and wood. The company has 80 hours of labor and 36 pounds of wood available
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| MERTON TRUCK | Memorandum To: President From: Date: ------------------------------------------------- Re: Merton Truck Company Introduction In response to your report and request regarding Merton’s financial performance and product mix‚ I have met with your controller‚ sales manager and production manager‚ and have provided a solution that will improve the company in these two areas. Using a systematic approach‚ I was able to analyze the current machine hours‚ standard costs‚ and
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(units) 1 1500 2 1500 3 1000 Product Machine A B C 1 $1.00 $1.20 $0.90 2 $1.30 $1.40 $1.20 3 $1.10 $1.00 $1.20 Use the transportation model to develop the minimum-cost production schedule for the products and machines. Show the linear programming formulation. 2. Scott and Associates‚ Inc. is a consulting firm that has 4 new clients. Based on different background and experiences of the leaders‚ the various leader-client assignments differ in terms of projected completion times. The
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between regular customers and new customers so that the total number of customers contacted during the two-week period will be maximized. A technician can contact on average 1.2 regular customers per hour and 1 new customer per hour. Develop a linear programming model that will enable HTS to allocate technician time between regular customers and new customers. Report the optimal solution. Management of High Tech Services (HTS) would like to develop a model that will help allocate its technician’s
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Operations Research CONTRIBUTERS: Prof. (Gp. Capt.) D.P. Apte Prof. (Gp. Capt.) Suhas Jagdale Prof. Anagha Gupte Anjali Mote MIT School of Business PGDM – 30th Batch Syllabus Subject Name: Operations Research Semester – II Subject Code: 203 Objective: Effective decision-making is the key to a manager’s success. Enhancement of productivity‚ optimum use of available resources and maximization of achievement of goals are important to the survival of an organization in today’s fiercely
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Supplemental Instruction (SI) EXAMPLE WORD DOC FOR MAT540 SI provided by Professor Aungst (students should personalize their case study using their own words/thoughts/style‚ this example is provided as a simple template just to get you started. Your actual Course Professor may provide other guidance‚ too.) Week 7‚ Assignment 3 Quantitative Methods - MAT540 Case Analysis Paper Julia’s Food Booth Chapter 3‚ page 109 Student Name Date Professor ____________________
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+ $8D Z = $2L + $1D Z = $2L + $2D 6.____________solutions are ones that satisfy all the constraints simultaneously. alternate feasible Infeasible Optimal Unbounded 7. When using linear programming model to solve the “diet” problem‚ the objective is generally to maximize profit. True False 8. A constraint for a linear
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