Engineering >> Industrial & Management SystemsOptimal Manufacturing Strategy For Multiple Productsby Erick Altamirano
Submitted : Fall 2012 A certain company wants to start producing two different products and distributing them into the market. The goal of this project is to determine the number of products in a single shift that must be manufactured so that the company can maximize their annual profit. For both products, simple algebra was utilized to determine the number of products per shift that could be produced and what would their annual profit be if the company decided to manufacture only one product. Basic calculus was used to determine the number of both products that the company should manufacture in order to maximize their annual profit, and essentially find the profit of the company. After the optimum numbers for both products were found, the maximized annual profit resulted to be favorable for the company. There were certain constraints that needed to be taken into account when deciding the number of products that should be produced. The final results of the project demonstrate that the company can start manufacturing both products according to their optimum numbers and expect a favorable profit at the end of the year. Related Links:
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