If you were making only one batch, what is the best batch you could make? What is
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If you were making only one batch, what is the best batch you could make? What is the profit associated with this batch? You will answer this question by creating a linear optimization model in Excel. Discuss your findings in a text box. If it's possible to walk through your process in Excel in the answer that'd be cool thanks.
Table 1. Raw materials optimization. Rate / Ton (in rupees) Recovery Minimum per Batch (% of RM) Maximum per Batch (% of RM) Maximum per Month (in tons) Tasla 17,000 0.84 0% 50% 800 Rangeen 13,600 0.74 0% 25% 500 Sponge 17,800 0.85 10% 50% 1,000 Local Scrap 20,000 0.94 15% 80% 1,000 Imported Scrap 23,000 0.97 0% 80% 1,500 HC 2,500 0.25 0% 20% 300 Pig Iron 20,400 0.95 5% 10% 500 Price / ton 29,000 Other consumables/ton 2,000 Salary / batch 3,000 Electricity unit cost 4.30 # of working days/month 25 # of hours/day 24 Maximum kg per batch 4,000 RM = raw materials
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