Cost Per Percent Percent Percent Supplier Valve ($) Large Medium Small 1 10 30 50 20 2 14 10 60 30 12 20 55 25 3.

Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
Section: Chapter Questions
Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...
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  1. One of the products of Edwards Lifesciences (EL) is artificial heart valves made from the heart valves of pigs.8 Different sizes of valves are required. However, the size of a pig's heart valve cannot be ascertained before the heart is purchased and opened. Therefore, EL has a mismatch problem: shortages of some sizes and excess of others. A program was established to document the size distribution of valves supplied by each supplier, and purchases were made from those suppliers with the needed sizes. Linear programming was used to determine the set of the suppliers that collectively satisfied EL's demand. Suppose EL purchases pig valves from three suppliers. The cost and size mix of the valves purchased from each supplier are given in the table below. Each month EL places one order with each supplier. Suppose next month, 250 large, 300 medium, and 100 small valves are needed. Formulate an LP that can be used to minimize the cost of acquiring the needed valves and use Excel's Solver to solve it.

Cost Per Percent
Percent
Percent
Supplier Valve ($) Large
Medium
Small
1
10
30
50
20
2
14
10
60
30
12
20
55
25
3.
Transcribed Image Text:Cost Per Percent Percent Percent Supplier Valve ($) Large Medium Small 1 10 30 50 20 2 14 10 60 30 12 20 55 25 3.
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