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Main
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& Finance > Applications
> Production Mix Model Excel |
 This
model calculates the Product or Service Mix that maximizes overall profit
considering available resources. It will identify the mix (number) of each
Production Item to produce and any remaining resource. Up to six unique
Production Items can be handled with ten specific resource inputs.
Production Items can be considered as the output of any process including
manufactured items and the provision of services. Resources are anything
that is needed to produce or provide the Production Item. This may include
materials, labor, machine time, floor space, transportation services etc.
The model applies Linear Programming to identify the optimum result. It
considers the resource demand, profit contribution and any minimum or
maximum production requirements for each Production Item. By using the
Solver Add-in included with Microsoft Excel the optimum solution is
identified and can then be manually adjusted to test alternative
scenarios. Operation is fully automated with tabular inputs and outputs.
No knowledge of Linear Programming or Excel is required for use. |
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Production Mix Model Excel
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