Profit Maximization for a Product-mix Problem in Small and Medium Enterprise
Year: 2024
Type: article
Abstract: Yet despite strong global signals, policy incentives and certification of four additional bio jet production pathways, viable cost-competitive bio jet production facilities have been slow to materialize. To represent information two things are crucial involve which are process and communication. Operations research or mathematical optimization is the selection of the best element (regarding some criteria) from some sets of available alternatives. In writing this project, the researcher has raised the need for understanding profit maximization for a product-mix problem in small and medium enterprises and the procedure step of achieving a qualitative product-mix problem solution by implementing a model through the adoption of linear programming. An optimization problem consists of maximizing or minimizing a real function by systematically choosing input values from within an allowed set and computing the function's value. A physical real-time problem constitutes a tangible entity which is an abstraction of a conceptual model is solution providence of physical organization straight forward as formulas of relationship among a set of variables such as imploring a deterministic technique to study myriads of occurrence event accurately perfectly predicted by outputting a compute solution to a real-time problem.
Source: Figshare
Author: Asore, Olorunfemi Bolaji
Language: English
Subfield: Control and Systems Engineering
Field: Engineering
Domain: Physical Sciences
Open Access status: green
OpenAlex ID: W6939931994
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