A pharmaceutical company manages a complex supply chain involving the production and distribution of various drugs, each
Question:
A pharmaceutical company manages a complex supply chain involving the production and distribution of various drugs, each with different lead times, production costs, and perishability considerations. The company aims to minimize transportation costs in $ and lead times in days, assuming that each day is estimated to add $ while ensuring drug availability.
a How can the pharmaceutical company construct an advanced LP model using the Vogel Method that considers lead times, multiple objectives, and complex supply chain dynamics, and how can they interpret the results effectively?
b How does incorporating delivery time constraints affect the formulation of the objective function?
c Explain the concept of multiobjective optimization and why it is important for LP models to balance cost and lead time considerations.
Factory Factory Factory Factory Lead time Supply
Drug
Drug
Drug
Demand
Financial Reporting And Analysis
ISBN: 9781260247848
8th Edition
Authors: Lawrence Revsine, Daniel Collins, Bruce Johnson, Fred Mittelstaedt, Leonard Soffer