Linear Programming allows us to tackle various real life problems, some of which we have already gone over in previous articles, such as the Transportation Problem, the Product Mix Problem and the Diet Problem. In the following article we will analyze a different classic application known as the Production Inventory Problem. This problem is essentially […]
One of the classic applications of Linear Programming models is the product mix problem. If the quality of a product that is processed through the mixture of certain inputs can be approximated reasonably through a proportion, then a linear model may be useful. The example below shows this situation: An oil refinery produces two types […]
“The Old Chairs”, a rustic company manufactures, among many other products, three types of chairs A, B and C, which are sold at price of 11, 13 and 12 dollars each respectively. The chairs go through three processes, Cutting, Assembly and Painting, for which up to 17, 13 and 15 hours a week respectively are dedicated […]