State Farm Supply has just received an order for 10,000 pounds of chicken feed. The farmer has specified certain that the feed meet minimum requirements for Protein, Carbohydrate, Fat and Vitamins. State Farm can blend four different feeds to produce the required mix. The farmer would like to pay the lowest possible price for the feed. The data for the problem is summarized in the following table.
Formulate the LP for this problem.
Definitions:
Cash Cycle
The time it takes for a company to convert its investments in inventory back into cash.
Cash Cycle
The period between the outlay of cash for raw materials and receiving payment from customers for goods or services, reflecting the efficiency of a company's cash management.
Paying Suppliers
The process of settling financial transactions with suppliers by transferring payment for goods or services received.
Inventory Period
The duration of time it takes for a company to sell its inventory and convert it into sales, often measured in days or months.
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