SUMMARY When the annual demand rate for a product or goods is constant‚ the inventory model is called deterministic. However‚ when the demand rate is not constant and not deterministic‚ the inventory model is called probabilistic and is best described by a probability distribution. The minimum-cost order quantity and re-order policies are based on the assumptions of the demand rate. PROBABILISTIC INVENTORY MODELS 1. A single-period inventory model with probabilistic demand The single-period
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This case presents some of the basic concepts of aggregate plan-ning by the transportation method. The case involves solving arather complex set of transportation problems. Four different con-figurations of operating plants have to be tested. The solutions‚ al-though requiring relatively few iterations to optimality‚ involvedegeneracy if solved manually. The costs are The lowest weekly total cost‚ operating plants 1 and 3 with 2closed‚ is $217‚430. This is $3‚300 per week ($171‚600 per year)or
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The Capacitated Arc Routing Problem (CARP) is a representative NP-Hard combinatorial optimization problem (Mourão et al. 2005; Mourgaya et al.‚ 2007; Shang et al. 2014; Han et al. 2004)‚ which has been widely applied in real life‚ such as: the path planning of municipal waste cleanup (Teixeira‚ et al. 2004; Rosa et al. 2002)‚ the path planning of sprinkler (Handa et al. 2006)‚ mail delivery planning (Lu et al.‚ 2006; Araoz et al. 2006)‚ salt spreader path planning (Muyldermans et al.‚ 2002)‚ school
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UNIVERSITY OF WATERLOO CO370/CM443: Deterministic OR Models Midterm Examination – FALL TERM 2011 Thursday‚ October 20‚ 2011‚ 7-9 PM (conflict time 4:45-6:45 PM) CLOSED BOOK Surname: First Name: Signature: ID#: INSTRUCTIONS: 1. Write your name and Student ID# in the blanks above. 2. There are five questions. Some questions may be longer or more difficult than others. Read all the questions first and budget your time appropriately for each question. 3. Answer each question in your solution booklet. Problem
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The University of Hong Kong Department of Industrial and Manufacturing Systems Engineering IELM6028 – Enterprise Logistics and Facilities Design Part 2- Modelling and analysis – Tutorial problems on plant layout Question 1 Three existing manufacturing facilities A‚ B and C are located in sites 1‚ 2 and 3 respectively as shown in Fig Q1 (a). Increase of production volume calls for three more new facilities K‚ L and M to be set up‚ which will occupy the sites adjacent to the present ones.
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MBA505 Take-Home Mid-Term Chapters 1-4 Saint Francis University – Spring 2015 – John S. Miko Due February 24‚ 2015 40 points (40 points – 10 points each) Please solve each problem fully and answer any follow-up questions. Circle all answers. For the Linear Program models done in Excel Solver‚ I would not only like you to print the spreadsheet with the end results but I also want to see the Decision Variables‚ Objective Function‚ and Constraints that you modeled using Excel Solver. This portion
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Chapter 6. 1.0 TRANSPORTATION PROBLEM The transportation problem is a special class of the linear programming problem. It deals with the situation in which a commodity is transported from Sources to Destinations. The objective is to determine the amount of commodity to be transported from each source to each destination so that the total transportation cost is minimum. EXAMPLE 1.1 A soft drink manufacturing firm has m plants located in m different cities. The total production is absorbed
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MANAGERIAL REPORT - Assignment 1: - Bangalore Textile Company : Bangalore textile company has in it’s a possession a plant capable of producing 6 types of suit materials . this production is currently realized by using a total of 40 machines divided in two categories ‚ which are regular machines and super machines . the regular machines can only afford the manufacturing of materials types 1 ; 2 and 3 while the super machine are more flexible because they generate all 6 material types . knowing
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MgtOp 340 Sample Exam 2 (Fall 2014) Instructions (1) The exam is open book and open notes. You can bring any paper material (such as books‚ notes‚ practice tests‚ homework‚ and etc.) to the test. However‚ you can not use cell phones‚ tablets‚ or computers. (2) In the real test‚ for the multiple choice questions‚ you may need to select the correct option from option A to N. (3) Remember to bring the book “Goal” to the test since there will be three questions asking about the “Goal” (Chapter 16-24)
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1. a. The simulation indicates that 584 is the optimum stocking quantity. Daily profit at this stocking quantity is $331.4346. b. Using the newsvendor model‚ Cu = 1 - 0.2 = 0.8 and Co = .2. Cu /(Cu + Co) = .8. Using the spreadsheet‚ we found Q* = NORM.INV(.8‚500‚100) = 584.16. The simulation and newsvendor model give the same optimal stocking quantity. 2. a. According to the simulation spreadsheet‚ 4 hours of investment in creation maximizes daily profit at $371.33. b. Sheen would choose an
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