1. Select two competitors in the same industry and discuss their inventory management techniques At least 250 words. Reference your sources.

2. LP Minimization Problem (6 points): MUNCH BAKERY produces two main products on their production line: Vanilla Cupcakes and Chocolate Cupcakes on two Production Lines (PL 1 and PL 2). The number of hours of production time and labor vary relative to the cupcake flavor and the production line as shown in the below tables:

The cost of mixing and baking a cupcake of each flavor is shown in the table below:

The number of labor hours and production lines time available this month are in the table below:

During the month of April, at least 200 Vanilla Cupcakes and 240 Chocolate Cupcakes must be available. Also, at least half of the Vanilla Cupcakes must be mixed and baked on PL1, and at least half of the Chocolate Cupcakes must be mixed and produced on PL2.

How can MUNCH BAKERY minimize the cost of meeting their demand during April?

A- Identify the decision variables, objective function and constraints.

B- Solve the problem using QM or Excel Solver.

PL PL1 PL2 Vanilla 0.7 Chocolate 0.75 0.9 0.8 Labor PL1 PL2 Vanilla 0.75 1.2 Chocolate 0.75 1 $ PL1 PL2 Vanilla 1.5 2.2 Chocolate 0.4 4 HOURS AVAILABLE PL1 200 PL2 200 Labor 400