The Optimal Solution of the Linear Programming Problem Is at the Intersection

question 63

Essay

The optimal solution of the linear programming problem is at the intersection of constraints 1 and 2.
$$\begin{array} { l l } \operatorname { Max } & 2 x _ { 1 } + x _ { 2 } \\\text { s.t. } & 4 x _ { 1 } + 1 x _ { 2 } \leq 400 \\& 4 x _ { 1 } + 3 x _ { 2 } \leq 600 \\& 1 x _ { 1 } + 2 x _ { 2 } \leq 300 \\& x _ { 1 } , x _ { 2 } \geq 0\end{array}$$
a.Over what range can the coefficient of x₁ vary before the current solution is no longer optimal?
b.Over what range can the coefficient of x₂ vary before the current solution is no longer optimal?
c.Compute the dual prices for the three constraints.

Understand the impact of global supply chain decisions on performance dimensions such as labor costs, order delivery, and supply chain visibility.

Recognize the significance of supply chain design decisions on the competitiveness and flexibility of the supply chain.

Comprehend the financial implications of supply chain decisions including NPV calculations and the effects of taxes and tariffs on offshored goods.

Identify strategies to manage risks and costs associated with global supply chains, including transportation costs and supply chain disruptions.

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Definitions:

Work Schedule

The structured outline of work hours, days, and shifts allocated to employees by an organization.

Automobile Assembly Line

A manufacturing process in which parts of a car are assembled in a sequential manner, moving from one workstation to the next.

Performance Appraisal

The systematic evaluation of an employee's performance over a specific period, often used for feedback and development purposes.

Evaluation

A systematic process for assessing the performance or value of a particular entity, activity, or outcome.