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#Optimization #ProductionPlan #MaximizeProfit
Optimization models for decision making is very important on #business point of view, primary objective of any business is to maximize profit and minimize cost. Optimization models and methods are effective and help businesses to achieve their objectives. Production Plan plays a vital role in any #manufacturing company in maximizing production considering constraints at minimum cost and achieving maximum profit or maximum #production to the company. Applying optimization techniques in production planning will surely helps the company to maximize their profit with available resources. 00:00 What is #Optimization? 01:10 Explaining Business Case 02:36 Building Optimization Model 04:48 Production Plan for Optimizing / Maximizing Profit with Inventory Constraint 08:10 Maximizing Profit with Inventory and Machine constraints 12:48 Impact of additional constraint on profit explained 14:01 Conclusion If you have any queries, please post it in comment section or at our blog - https://pakuppaivu.blogspot.com
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