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311_Session6 _ Chen

311_Session6 _ Chen - Session6:LinearProgramming Reminders...

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Operations Management Session 6:  Linear Programming Excel and Sensitivity Analysis
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Session 6 Operations Management 2 Reminders Exam #1 is Wednesday, 2/11.  Open book and  notes.  No laptops. HW #2 on LP’s due 2/09.  Please print out answer  and sensitivity reports on questions that ask you to  use the Excel Solver. Monday, 2/09, is devoted to review.  We will go  over the sample exams posted on Blackboard.
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Session 6 Operations Management 3 Previous Class Defined an LP. Showed examples of how to formulate LP’s. Learned how to solve LP’s graphically.
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Session 6 Operations Management 4 Today Using the Excel Solver to find the solution to an  LP.  (Do Brewery example first.) Sensitivity analysis Note that supporting .xls files for oil refinery,  brewery, and portfolio management are posted to  Blackboard.
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Session 6 Operations Management 5 Oil Refinery Example An oil refinery can blend three grades of crude oil to  produce regular and super gasoline.   Two possible blending processes are available. For each production run the older process uses 5 units of  crude A, 7 units of crude B, and 2 units of crude C to  produce 9 units of regular and 7 units of super gasoline. The newer process uses 3 units of crude A, 9 units of crude  B, and 4 units of crude C to produce 5 units of regular and 9  units of super gasoline for each production run.
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Session 6 Operations Management 6 Oil Refinery Example Because of prior contract commitments, the refinery must  produce at least 500 units of regular gasoline and at least  300 units of super for the next month. It has 1500 units of crude A, 1900 units of crude B, and  1000 units of crude C available. For each unit of regular gasoline produced the refinery  receives $6, and for each unit of super it receives $9. The problem is to determine how to use the resources of  crude oil and the two blending processes to meet the  contract commitments and, at the same time, to maximize  revenue.
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Session 6 Operations Management 7
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