Developing a Linear Programming Model to Maximize Profit With Minimized Lead Time of a Composite Textile Mill

Abstract

In the competitive market of apparel manufacturing, lead time for production plays a significant role in the delivery of the produces impacting the entire supply chain. Nowadays, composite manufacturers are leaning towards delivering within the shortest possible time to retain customers in this competitive market. To meet this challenge, proper production planning either using the correct method or the appropriate tools is a prerequisite condition; otherwise, mills will inevitably suffer losses or fail to drain out the maximum possible profit from the produces and may also suffer from promoting more expenses rather than yielding revenues. This study deals with the development of a linear programming model in order to reduce the complexity of the scheduling problem of a Composite Textile Industry in pursuit of maximizing profit or minimizing production costs. The model is developed considering process segmentation, utilization of machines and other resources, with respect to lead time. Four different components of the lead time are derived and an excel solver is used in solving the model.

Application of the simplex method on profit maximization in Baker's Cottage

“…The result indicated that the bakery should generate and market more small loaves and big loaves to maximize the profit. Ghosh et al [27] developed a linear programming model to reduce the complexity of a Composite Textile Industry's scheduling problem in pursuit of maximizing profit. The model is developed considering process segmentation, utilization of machines, and other resources, concerning lead time.…”

“…Four different leadtime components are derived, and Microsoft Excel solver is used in solving the model. Ghosh et al [27] found that the maximum profit is $5164, and the Composite Textile Industry will gain this maximum profit if the project is completed within 31 days.…”