Paper, Order, or Assignment Requirements
Determine the objective functions and constraints of this case if the objective of the OMW is to maximize the profits.
Create an Excel Solver model to solve the problem and answer the questions in Action Item 3. A help document and template for setting up the problem/case study have been provided here:
Write a one page paper answering the following questions:
What are the objective functions and constraints of this case if the objective of the OMW is to maximize the profits?
What is the value of an additional hour of capacity on the rolling machine RM2?
What is the value of an additional two hours of capacity on the rolling machine RM1?
If the speed of rolling machine RM3 could be doubled without changing the labor cost, what would it be worth per week?
Convert labor costs from “$/hour” to “feet/hour” when determining objective function.
There are three main products, but since these products are processed in three different machines, there are actually six different products with different net profit values.
Convert speed from “feet/min” to “hours/feet” when dealing with time constraints (available hours per week).