Product Mix Optimization Scenarios: A Case Study for Decision Support Using Linear Programming Approach

Mohammed, Ayman R.; Kassem, Sally

doi:10.1109/itce48509.2020.9047758

Cited by 4 publications

(4 citation statements)

References 12 publications

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“…In attire fabricating firms, effective utilization of materials, for example, textures and sewing strings, and preparing time at various phases of creation just as minimization of work and materials cost are essential to improve their productivity. This can be supported by a recent study undertaken for defining optimum product mix using the theory of constraints (19) . Here, two linear programming models solved the problem of deciding the efficient bird feed by utilizing optimum resources and maximum productivity.…”

Section: Discussionmentioning

confidence: 69%

A Study on Application of Linear Programming on Product Mix for Profit Maximization and Cost Optimization

Chanda¹,

Pabalkar²,

Gupta³

2022

IJST

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Objectives: This research aims to sneak into the retailer's perception about that customer segment and plan a product mix accordingly. The focus is on small players in small towns not having deep pockets to synergize the product mix decisions effectively. Methods: The data used in this research paper is from Hatchers, a medium-sized enterprise with zero budget for software for product mix decisions. The data was collected through face-to-face interviews with ten representatives and five supervisors in compliance with the existing documents and existing datasheet obtained from the production department, which was slightly updated to make the final output. The data was for one season, i.e., April to March. The data was analyzed to study pre-Linear Programming and post-Linear Programing profits. Findings: This examination distinguishes the current asset usage level and the benefit of every period of one of the apparel producing organizations, utilizing a linear programming procedure. Actual consumption of resources (product wise) was calculated to evaluate profit post applying Linear Programing to see the wastage and cost. There was a 54% increase post LP compared to the product-wise resource utilization. Similarly, the profit using Linear programming was more than double as wastage and costing were minimum, and revenue was high. Novelty: The article focused on the simple basic principle of linear programming for identifying product mix using Excel(Solver). LINGO. The software solutions become costlier for small firms, whereas Excel is more accessible and cost-efficient. There is a gap in existing literature as previous research has not focused on this aspect for small business houses where adapting software solutions is challenging.

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Section: Discussionmentioning

confidence: 69%

A Study on Application of Linear Programming on Product Mix for Profit Maximization and Cost Optimization

Chanda¹,

Pabalkar²,

Gupta³

2022

IJST

View full text Add to dashboard Cite

show abstract

“…Meanwhile, according to Zhe Bao, et al, (2020), linear programming is a program that can be applied to solve the optimization program. The objective function and constraint equations are deterministic, and the Simplex approach can only be used to solve situations where there is no uncertainty in the variables or coefficients (Mohammed, A.R. and Kassem, S.S. 2020).…”

Section: The Meaning Of Linear Programmingmentioning

confidence: 99%

Exploring the Global Pupil’s Academic Performance in Linear Programming: A Glimpse on Literature Review

Mulenga,

Lombe,

Simui

2023

Am. J. Life Sci. Innov.

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The main objective of this essay was to conduct an exhaustive literature review of the pupil’s performance in linear programming. The study sample had 15 participants comprising 8 females and 7 males purposively sampled. The study concerning students’ lived experiences of their academic success in linear programming was conducted using a hermeneutics phenomenology design. The study was qualitative as the details were descriptive, led by the specified methodology, and used qualitative research methodologies and procedures. This is a result of its stringent compliance standards for a variety of processes, including sampling techniques and data analysis methodologies (Mulenga, 2015). The intent was to describe the pupil’s academic performance, explore pupils’ linear programming-related disablers, and explore techniques for enhancing pupils’ academic performance. The study was only carried out for six months. In light of this, it has been noted that the performance of pupils in linear programming is subpar as a result of a variety of complications, including lack of teaching and learning resources, incompetent teachers, pedagogy they use, pupils’ attitude, mathematical language, time and the usage of subpar textbooks, among others. As a result, the existing difficulties have even led to pupils’ low morale, which is prevalent worldwide, especially in developing nations. In order to address the issue of the topic being taught by incompetent teachers, it is advised that the government train and recruit qualified and competent mathematics teachers to teach the subject at senior secondary. Furthermore, additional time should be allotted to the challenging topics through collaboration between the MoGE and the Curriculum Development Centre (CDC). In order to support pedagogies among mathematics teachers, it is also advised that the MoGE strengthen Continuous Professional Development (CPD) initiatives in schools. Besides, the MoGE should receive more funding in order to purchase instructional materials for different schools across the nation. Teachers of mathematics are commended to use a variety of approaches, tactics, and strategies in order to enhance how they present the lesson they are teaching.

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“…The aim is to speed-up the simplex method (or any vertex enumeration method) for linear programming when the number of constraints is much larger than the number of variables. Mohammed and Kassem [16] consider a product mix problem in which several scenarios are presented for the same problem considering two important aspects, namely, resources' utilization and productivity. But these stochastic methods apply linear programming to the expected values of the objective function coefficients.…”

Section: Ridley Et Al Journal Of Applied Mathematics and Physicsmentioning

confidence: 99%

Randomized Objective Function Linear Programming in Risk Management

Ridley¹,

Llaugel²,

Daniels³

et al. 2021

JAMP

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The traditional linear programming model is deterministic. The way that uncertainty is handled is to compute the range of optimality. After the optimal solution is obtained, typically by the simplex method, one considers the effect of varying each objective function coefficient, one at a time. This yields the range of optimality within which the decision variables remain constant. This sensitivity analysis is useful for helping the analyst get a sense for the problem. However, it is unrealistic because objective function coefficients tend not to stand still. They are typically profit contributions from products sold and are subject to randomly varying selling prices. In this paper, a realistic linear program is created for simultaneously randomizing the coefficients from any probability distribution. Furthermore, we present a novel approach for designing a copula of random objective function coefficients according to a specified rank correlation. The corresponding distribution of objective function values is created. This distribution is examined directly for central tendency, spread, skewness and extreme values for the purpose of risk analysis. This enables risk analysis and business analytics, emerging topics in education and preparation for the knowledge economy.

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Product Mix Optimization Scenarios: A Case Study for Decision Support Using Linear Programming Approach

Cited by 4 publications

References 12 publications

A Study on Application of Linear Programming on Product Mix for Profit Maximization and Cost Optimization

A Study on Application of Linear Programming on Product Mix for Profit Maximization and Cost Optimization

Exploring the Global Pupil’s Academic Performance in Linear Programming: A Glimpse on Literature Review

Randomized Objective Function Linear Programming in Risk Management

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