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Simulation Using Sensitivity Analysis of a Product Production Rate Optimization Model of a Plastic Industry

DOI: 10.4236/ojee.2013.23018, PP. 139-142

Keywords: Sensitivity Analysis, Simplex Method, Linear Programming, Optimization

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Abstract:

This study analyzes the sensitivity analysis using shadow price of plastic products. This is based on a research carried out to study optimization problem of BOPLAS, a plastic industry in Maiduguri, North eastern Nigeria. Simplex method of Linear programming is employed to formulate the equations which were solved by using costenbol software. Sensitivity analysis using shadow price reveals that the price of wash hand bowls is critical to the net benefit (profit) of the company.

References

[1]  A. Ibhadode, “Introduction to Manufacturing Technology,” AMBIK Publishers, Lagos, 2001, pp. 92-95.
[2]  A. Aji, et al., “Development of a Product Production Rate Optimization Model: A Case Study of BOPLAS Plastic Industry,” Continental Journal of Engineering Sciences, Vol. 4, 2009, pp. 26-31.
[3]  R. Hussey, “Cost and Management Accounting,” P, (app. C3-C22), 1989.
[4]  J. Krawjewski, “Operations Management; Strategy and Analysis,” Addison-Wesley Publishing Company, Canada, 1987, pp. 118-125.
[5]  R. Costenoble, “Simplex Method of Solving General Linear Programming Problems”. www.Zweigmedia.com/third Edsite/index.htm
[6]  K. Crow, “Archiving Target Cost/Design to Cost Objectives,”2001. www.ndp-solutions.com/dtc.htm
[7]  K. Crow, “Design for Manufacturability”. www.ndp-solutions.com/dfm.htm
[8]  C. Frederic, “Cost and Optimization Engineering,” Mc-Graw Hill Publishing Company, New York, 1985.

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