...328 CHAPTER 8 Linear Programming Modeling Applications: With Computer Analyses in Excel and QM for Windows See our Internet home page at www.prenhall.com/render homework problems 8-24 to 8-28. for additional On Monday, September 13, 1999, Mitchell Gordon, vice president of operations at Red Brand Canners, asked the controller, the sales manager, and the production manager to meet with him to discuss the ~mount of tomato products to pack that season. The tomato crop, which had been purchased at planting, was beginning to arrive at the cannery, arid packing operations would have to be started by the following Monday. Red Brand Canners is a medium-sized company that cans and distributes a variety of fruit and vegetable products under private brands in the western states. William Cooper, the controller, and Charles Myers, the sales manager; were the first to arrive in Gordon's office. Dan Tucker, the production manager, came in a few minutes later and said that he had picked up Produce Inspection's latest estimate of the quality of the incoming tomatoes. According to the report, about 20% of the crop was grade A quality and the remaining portion of the 3-million-pound crop was grade B. Gordon asked Myers about the demand fortomato products for the coming year. Myers replied that they could sell all of .the whole canned tomatoes they could produce. The expected demand for tomato juice and tomato paste, on the other hand, was limited. The sales manager then passed around...
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...This Case Study deals with production-mix problem in Red Brand Canners, medium-sized company that cans and distributes a variety of fruit and vegetable products. This particular problem deals with three tomato-products: 1. Whole tomato cans 2. Tomato juice 3. Tomato paste cans Production objective is to define such product mix, which will bring maximum total profit, subject to various production constraints. General objective function can be defined as (1) Since three different products are discussed here, this function can be also expressed as (1a) where - total revenue of whole tomato, tomato juice and tomato paste respectively - total production cost of whole tomato, tomato juice and tomato paste respectively Total revenue and total cost of each of the products can be calculated with respect to units of product produced (sold), unit price and unit cost of product. For whole tomato this can be expressed as follows: (2) (2a) where - units of the whole tomato sold - price of the unit of whole tomato - cost per unit of whole tomato Similarly, total revenue and total cost may be calculated for tomato juice (3) (3a) and for tomato paste (4) (4a) where - units of the tomato juice and tomato paste sold, respectively - unit price of the tomato juice and tomato paste, respectively - cost per unit tomato juice and tomato paste, respectively ...
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...20 SOLUTIONS TO DISCUSSION QUESTIONS AND PROBLEMS 4-1. In most real world situations that are modeled using LP, conditions are dynamic and changing. Hence, input data such as resource availabilities, prices, and costs used in the LP model are estimated, rather than known with certainty. In such environments, sensitivity analysis can be used to identify the ranges of values of these input data for which the current LP solution remains optimal. This is done without solving the problem again each time we need to examine a change in an input data’s value. When all model values are deterministic, that is, known with certainty, sensitivity analysis may not be needed from the perspective of evaluating data accuracy. This may be the case in a portfolio selection model in which we select from among a series of bonds whose returns and cash-in values are set for long periods of time. 4-2. Sensitivity analysis is important in all decision modeling techniques. For example, it is important in breakeven analysis to test the model’s sensitivity to selling price, fixed cost, and variable cost. Likewise, it is important in inventory models in which we tests the result’s sensitivity to changes in demand, lead time, costs, and so on. 4-3. A change in a resource’s availability (right-hand-side) changes the size of a feasible region. An increase means more units of that resource are available, causing the feasible region to increase in size. A decrease means fewer units are available...
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...Domesticated raspberries, as opposed to the wild raspberry are by far the best choice available. They are considerably larger, juicier,and have a good amount acidity and pectin. Pectin is a jelling substance found naturally in a large variety of fruits. Raspberries are found to be high in pectin, while strawberries, blackberries, and blueberries are low in pectin. Finding a decent patch of berries to harvest that has not been picked through can sometimes be a challenge. Walmart and Fred Meyers will have everything needed to make raspberry jam. For the food portion of the shopping list, the following are needed: • At least 6 cups of white granulated sugar • 1 cube of butter • CERTO brand fruit pectin in the pouch found in the food storage section. • If you missed the berry picking season, frozen red raspberries will suffice. You will need at least 2 quarts of uncrushed berries. For the cooking and hardware portion of the shopping trip, gather the items listed below: • 1- 6 to 8 quart Stainless Steel sauce pot. It is important to use only Stainless Steel, as other metals such as aluminum will produce a chemical reaction with the berries which results in a tinny taste. • 1 - Large Stainless Steel Spoon • 1 - Stainless Steel ladle • 9 - 8 ounce Ball Mason Jars. Each jar will require a band and a lid and are always sold with the mason jars. It is important that the lid be new and should never be used more than once. • 1 water canning kit. The kit will contain a large...
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...In 1889, a well-known Manila businessman, Don Enrique María Barretto de Ycaza y Esteban, applied for a royal grant from Spain to establish a brewery in the Philippines. He was awarded the grant for a period of twenty years. On September 29, 1890 (Michaelmas, or the feast day of Saint Michael the Archangel), La Fábrica de Cerveza de San Miguel was declared open for business. Located at 6 Calzada de Malacañang(later called Calle Avilés), the brewery took its name from its neighbourhood, the arrabal(suburb or district) of San Miguel. The facility had two sections: one devoted to the production of ice with a daily capacity of 5 tonnes, and the other to beer production. The brewery was the first in Southeast Asia using the most modern equipment and facilities of the day. With 70 employees, the plant produced 3,600 hectolitres (about 47,000 cases) of lager beer during the first year and subsequently produced other types of beer, notably Cerveza Negra, Eagle Extra Stout and Doble Bock. Early success led to the expansion of the business and Barretto decided to incorporate his brewery. On 6 June 1893, the company was incorporated and registered with a capital of P180,000. Those forming the corporation were Don Pedro Pablo Róxas y Castro, Don Gonzalo Tuasón y Patiño, Don Vicente D. Fernández y Castro, Don Albino Goyenechea, Benito Legarda y Tuáson, the heirs of Don Mariano Buenaventura y Chuidan and Barretto. Róxas was soon appointed manager, playing a prominent role in the development...
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...6634 CH04 UG 8/23/02 1:53 PM Page 20 C H A P T E R Linear Programming Sensitivity Analysis 4 SOLUTIONS TO DISCUSSION QUESTIONS AND PROBLEMS 4-1. In most real world situations that are modeled using LP, conditions are dynamic and changing. Hence, input data such as resource availabilities, prices, and costs used in the LP model are estimated, rather than known with certainty. In such environments, sensitivity analysis can be used to identify the ranges of values of these input data for which the current LP solution remains optimal. This is done without solving the problem again each time we need to examine a change in an input data’s value. When all model values are deterministic, that is, known with certainty, sensitivity analysis may not be needed from the perspective of evaluating data accuracy. This may be the case in a portfolio selection model in which we select from among a series of bonds whose returns and cash-in values are set for long periods of time. 4-2. Sensitivity analysis is important in all decision modeling techniques. For example, it is important in breakeven analysis to test the model’s sensitivity to selling price, fixed cost, and variable cost. Likewise, it is important in inventory models in which we tests the result’s sensitivity to changes in demand, lead time, costs, and so on. 4-3. A change in a resource’s availability (right-hand-side) changes the size of a feasible region. An increase means more units of that resource are available...
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...Business AnAlytics And intelligence Course Starting: 29 June 2014 Application Deadline: Early Decision 28 February 2014 Regular Decision 15 April 2014 (Batch 5) (Classes conducted on-campus as well as off-campus) Certificate Programme on Business Analytics and Intelligence BATCH 5 in god We trust, All Others Must Bring data - W edwards deming he theory of bounded rationality proposed by nobel laureate Herbert Simon is evermore significant today with increasing complexity of the business problems; limited ability of human mind to analyze alternative solutions and the limited time available for decision making. introduction of enterprise resource planning (eRP) systems has ensured availability of data in many organizations; however, traditional eRP systems lacked data analysis capabilities that can assist the management in decision making. Business Analytics is a set of techniques and processes that can be used to analyse data to improve business performance through fact-based decision making. Business Analytics is the subset of Business intelligence, which creates capabilities for companies to compete in the market effectively. Business Analytics is likely to become one of the main functional areas in most companies. Analytics companies develop the ability to support their decisions through analytic reasoning using a variety of statistical and mathematical techniques. thomas devonport in his book titled, “competing on analytics: the new science of winning”, claims...
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...caramel – colored syrup in a three – legged brass kettle in his backyard. He first “distributed” the new product by carrying Coca – Cola in a jug down the street to Jacobs Pharmacy. For five cents, consumers could enjoy a glass of Coca – Cola at the soda fountain. Whether by design or accident, carbonated water was proclaimed “Delicious & Refreshing” Dr. Pemberton’s partner & bookkeeper, Frank M. Robinson suggested the name & panned “Coca – Cola” in the unique flowing script that is famous worldwide today. Mr. Robinson thought ‘the two C’s would look well in advertising. In 1886 sales of Coca – Cola averages nine drinks per day. The first, Dr. Pemberton sold 25 gallon of syrup, shipped in bright red wooden kegs. Red has been a distinctive color associated with the no. 1 soft drink brand ever since. By 1891, Atlanta entrepreneur Asa G. Candler had acquired complete ownership of Coca – Cola business. Within four years, his merchandising flair helped expand consumption...
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...Statements on Management Accounting PRACTICE OF MANAGEMENT ACCOUNTING TITLE Value Chain Analysis for Assessing Competitive Advantage CREDITS This statement was approved for issuance as a Statement on Management Accounting by the Management Accounting Committee (MAC) of the Institute of Management Accountants (IMA). IMA appreciates the support of The Society of Management Accountants of Canada (SMAC) in helping create this SMA and extends appreciation to Joseph G. San Miguel, of the Naval Postgraduate School, who drafted the manuscript. Published by Institute of Management Accountants 10 Paragon Drive Montvale, NJ 07645-1760 www.imanet.org Special thanks are due to Randoif Holst, SMAC Manager, Management Accounting Guidelines, for his continuing project supervision and to the members of the focus group (including MAC members Dennis Daly and Thomas Huff) for contributing to the improvement of the final document. Copyright © 1996 Institute of Management Accountants All rights reserved Statements on Management Accounting PRACTICE OF MANAGEMENT ACCOUNTING Value Chain Analysis for Assessing Competitive Advantage TABLE OF CONTENTS I. II. III. IV. Rationale . . . . . . . . . . . . . . . . . . . . . . . 1 Scope . . . . . . . . . . . . . . . . . . . . . . . . . 1 The Value Chain Defined . . . . . . . . . . . . .1 Competitive Advantage and Customer Value . . . . . . . . . . . . . . . . . . .2 V. The Role of the Management Accountant...
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...Policy Research – Implications of Liberalization of Fish Trade for Developing Countries Trade Issues Background Paper: The Impact of Dumping on Trade in Fisheries Products Nigel Peacock Project PR 26109 July 2004 Support unit for International Fisheries & Aquatic Research SIFAR Food and Agriculture Organization (FAO) of the United Nations, Rome 1 THE IMPACT OF DUMPING ON TRADE IN FISHERIES PRODUCTS This report forms part of a wider study on “Policy Research – Implications of Liberalization of Fish Trade for Developing Countries”, comprising five trade issues background papers and five country case studies. The trade issues background papers are dealing with the following topics: • Sanitary and Phyto-Sanitary (SPS) Measures and Technical Barriers to Trade (TBT) • Ethical/Social/Eco Certification, Labelling and Guidelines • The Impact of Subsidies on Trade in Fisheries Products • The Impact of Dumping on Trade in Fisheries Products • Fiscal Reforms and Trade in Fisheries Products The case studies cover the following countries: • Bangladesh • Guinea • India • Uganda • Vietnam For a synthesis of the entire study including policy recommendations, see: Bostock, T., Greenhalgh, P. and Kleih, U. (2004), Policy Research – Implications of Liberalization of Fish Trade for Developing Countries – Synthesis Report. Chatham, UK: Natural Resources Institute. ISBN 0 85954 560-1. Copies of the various reports are available on the following websites: • www.onefish.org/id/225570...
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...Alternative Cancer Therapies Table of Contents 714-X ABM Mushroom AHCC Aloe Vera Anticoagulants Antineoplastons Antioxidants Anvirzel Artemisinin Asparagus Berries Boluses Bovine Cartilage Cancell Cansema Carnivora Alternative Cancer Therapies Page 1 Updated 05/17/11 Bookmark this page...as we learn of more therapies throug Please report any broken links by contacting info@mnwelldir.org Perhaps we should call these "unproven therapies" since many of them are on the American Cancer Society's infamous black list. Simply because something is "unproven" does not mean that it has been "disproven." And if a therapy fits the following— 1. It works. Castor Oil Packs Cayenne Pepper Chaparral Chinese Bitter Melon Chiropractic Clodronate Coley's Toxins Contortrostatin C-Statin D-limonene DMSO Electrolyzed Water Ellagic Acid Enzyme Therapy Escharotics Essential Oils 2. It's inexpensive. 3. Few, if any, negative side effects. 4. It's not patentable. —odds are it will stay on the black list because no one is going to spend a dime to prove its effectiveness. Medicine is a business. Cancer is a business. The FDA is running a protection racket, protecting drug companies and the AMA from anyone with an inexpensive and effective treatment for money making diseases. The following therapies are not guaranteed to work, at least by us. They are presented to you for information purposes only. For many, their effectiveness has been shown in limited clinical trials, but each one, by itself, is not...
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...1(d).Value Chain Analysis: A Way to profit improvement & cost Reduction Learning Objective 1. how to identify the value added activity 2. how to rectify the non –value added activity 3. application in profit planning & cost reduction INTRODUCTION Competitive advantage for a company means not just matching or surpassing their competitors, discovering what the customers want and then profitably satisfying, and even exceeding their expectations. As barriers to inter-regional and international trade are diminishing and as access to goods and services are growing, customers can locate after identification and «the best of what they want, at an acceptable price, wherever it is in the world. Under growing competition and, hence, rising customer expectations, a company's penalty for complacency becomes even greater. A strategic tool to measure the importance of the customer's perceived value is value chain analysis. By enabling companies to determine the strategic advantages and disadvantages of activities and value-creating processes in the market place, value chain analysis becomes essential for assessing competitive advantage. Value analysis or value engineering is one of the most widely used cost reduction techniques. It can be defined as a technique that yields value improvement. It investigates into the economic attributes of value. It attempts to reduce cost through ...
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...Adventist International Institute of Advanced Studies AIIAS BUAD635 Quantitative Analysis for Decision-Making Study Guide To accompany the prescribed text: Quantitative Analysis for Management by Render, Stair and Hanna, 11th edition, Prentice Hall, 2012 Unit # 1: Overview and Introduction to Quantitative Analysis Prescribed Text: Quantitative Analysis for Management by Render, Stair and Hanna, 11th edition, Prentice Hall, 2012 – Chapter 1 Objectives of unit 1: After completing this unit, students should be able to: 1. Describe the quantitative analysis approach for management 2. Demonstrate an understanding by applications of quantitative analysis in real world situations 3. Demonstrate the use of modeling in quantitative analysis 4. Use computers and spreadsheet models to perform quantitative analysis 5. Understand the limitations of quantitative analysis 6. Demonstrate/perform break-even analysis. Scope of coverage: Concepts Development 1. Overview of quantitative analysis 2. Defining quantitative analysis 3. The approach to quantitative analysis 4. A quantitative analysis model 5. Using spreadsheet for quantitative analysis 6. Limitation of quantitative analysis Introduction Quantitative analysis for decision-making is the application of a scientific approach to solve management problems. The purpose is to help...
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...G. P. PUTNAM’S SONS An imprint of Penguin Young Readers Group. Published by The Penguin Group. Penguin Group (USA) Inc., 375 Hudson Street, New York, NY 10014, USA. Penguin Group (Canada), 90 Eglinton Avenue East, Suite 700, Toronto, Ontario M4P 2Y3, Canada (a division of Pearson Penguin Canada Inc.). Penguin Books Ltd, 80 Strand, London WC2R 0RL, England. Penguin Ireland, 25 St. Stephen’s Green, Dublin 2, Ireland (a division of Penguin Books Ltd). Penguin Group (Australia), 707 Collins Street, Melbourne, Victoria 3008, Australia (a division of Pearson Australia Group Pty Ltd). Penguin Books India Pvt Ltd, 11 Community Center, Panchsheel Park, New Delhi–110 017, India. Penguin Group (NZ), 67 Apollo Drive, Rosedale, Auckland 0632, New Zealand (a division of Pearson New Zealand Ltd). Penguin Books South Africa, Rosebank Office Park, 181 Jan Smuts Avenue, Parktown North 2193, South Africa. Penguin China, B7 Jiaming Center, 27 East Third Ring Road North, Chaoyang District, Beijing 100020, China. Penguin Books Ltd, Registered Offices: 80 Strand, London WC2R 0RL, England. Copyright © 2013 by Rick Yancey. All rights reserved. No part of this book may be reproduced, scanned, or distributed in any printed or electronic form without permission in writing from the publisher, G. P. Putnam’s Sons, an imprint of Penguin Young Readers Group, 345 Hudson Street, New York, NY 10014. G. P. Putnam’s Sons, Reg. U.S. Pat & Tm. Off. Please...
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...COLLAPSE HOW S O C I E T I E S CHOOSE TO FAIL OR S U C C E E D JARED DIAMOND VIK ING VIKING Published by the Penguin Group Penguin Group (USA) Inc., 375 Hudson Street, New York, New York 10014, U.S.A. Penguin Group (Canada), 10 Alcorn Avenue, Toronto, Ontario, Canada M4V 3B2 (a division of Pearson Penguin Canada Inc.) Penguin Books Ltd, 80 Strand, London WC2R ORL, England Penguin Ireland, 25 St. Stephen's Green, Dublin 2, Ireland (a division of Penguin Books Ltd) Penguin Books Australia Ltd, 250 Camberwell Road, Camberwell, Victoria 3124, Australia (a division of Pearson Australia Group Pty Ltd) Penguin Books India Pvt Ltd, 11 Community Centre, Panchsheel Park, New Delhi—110 017, India Penguin Group (NZ), Cnr Airborne and Rosedale Roads, Albany, Auckland 1310, New Zealand (a division of Pearson New Zealand Ltd) Penguin Books (South Africa) (Pty) Ltd, 24 Sturdee Avenue, Rosebank, Johannesburg 2196, South Africa Penguin Books Ltd, Registered Offices: 80 Strand, London WC2R ORL, England First published in 2005 by Viking Penguin, a member of Penguin Group (USA) Inc. 13579 10 8642 Copyright © Jared Diamond, 2005 All rights reserved Maps by Jeffrey L. Ward LIBRARY OF CONGRESS CATALOGING IN PUBLICATION DATA Diamond, Jared M. Collapse: how societies choose to fail or succeed/Jared Diamond. p. cm. Includes index. ISBN 0-670-03337-5 1. Social history—Case studies. 2. Social change—Case studies. 3. Environmental policy— Case studies. I. Title. HN13. D5 2005 304.2'8—dc22...
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