2. A furniture manufacturer produces two types of display cabinets, type X and type Y. On a weekly basis he must produce at least 2 of each type, but not more than 5 of type X or more than 6 of type Y. It takes 4 hours to produce type X and 5 hours for type Y in a 40 hour working week. At least 12 workers are needed with 2 working on type X and 3 on type Y at any one time. 2.1 Represent the above information as a system of inequalities. 2.2 Draw a graph of the system and indicate the feasible region clearly. 2.3 If the profit (P) on type X is R800 and on type Y is R1000, write down the objective function in the form P= ax + by. 2.4 Determine the number of each type that must be produced each week to make a maximum profit. Determine the maximum profit.
Critical Path Method
The critical path is the longest succession of tasks that has to be successfully completed to conclude a project entirely. The tasks involved in the sequence are called critical activities, as any task getting delayed will result in the whole project getting delayed. To determine the time duration of a project, the critical path has to be identified. The critical path method or CPM is used by project managers to evaluate the least amount of time required to finish each task with the least amount of delay.
Cost Analysis
The entire idea of cost of production or definition of production cost is applied corresponding or we can say that it is related to investment or money cost. Money cost or investment refers to any money expenditure which the firm or supplier or producer undertakes in purchasing or hiring factor of production or factor services.
Inventory Management
Inventory management is the process or system of handling all the goods that an organization owns. In simpler terms, inventory management deals with how a company orders, stores, and uses its goods.
Project Management
Project Management is all about management and optimum utilization of the resources in the best possible manner to develop the software as per the requirement of the client. Here the Project refers to the development of software to meet the end objective of the client by providing the required product or service within a specified Period of time and ensuring high quality. This can be done by managing all the available resources. In short, it can be defined as an application of knowledge, skills, tools, and techniques to meet the objective of the Project. It is the duty of a Project Manager to achieve the objective of the Project as per the specifications given by the client.
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