ABC furniture’s produce three products tables, desks and chairs. The furniture is produced in central plant. The production of the desk requires 3 hours in the plant, the table 2 hours and the chair 1 hour. The regular plant capacity is 40 hours a week. According to the marketing department, the maximum number of desks, tables and chairs that can be sold weekly are 10, 10 3 | P a g e and 12 respectively. The president of the firm has established the following goals according to their importance: a. avoid any underutilization of production capacity
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.
ABC furniture’s produce three products tables, desks and chairs. The furniture is produced in
central plant. The production of the desk requires 3 hours in the plant, the table 2 hours and the
chair 1 hour. The regular plant capacity is 40 hours a week. According to the marketing
department, the maximum number of desks, tables and chairs that can be sold weekly are 10, 10
3 | P a g e
and 12 respectively. The president of the firm has established the following goals according to
their importance:
a. avoid any underutilization of production capacity
b. meet the order of XYZ store for seven desk and five chairs
c. avoid overtime operation of the plant beyond 10 hours
d. achieve sales goal of 10 desks, to tables and 12 chairs
e. minimize overtime operation as much as possible
Based on the information given above formulate the goal programming problem
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